Care/of helps consumers build a daily routine of taking nutritional supplements specially tailored to their needs. The four-year-old company is simplifying the vitamin category through personalization, technology, and a delightful experience.
The acquisition furthers Bayer’s strategic business objectives by strengthening the company’s presence in the high-growth area of personalized nutritionals. The partnership supports Bayer’s commitment to self-care and accelerates its understanding of personalized nutrition and advanced digital capabilities.
Care/of will join Bayer’s Consumer Health, North America portfolio, with President Patrick Lockwood-Taylor serving as chair of the new Board of Directors. Care/of CEO and co-founder Craig Elbert will remain as CEO overseeing day-to-day operations. Houlihan Lokey served as the advisor to Care/of on the deal.
Care/of is a wellness startup that takes the guesswork out of feeling better. The company makes high-quality vitamins, supplements and powders from well-researched ingredients, and does the legwork to help people make smart choices. Care/of was founded by Craig Elbert and Akash Shah in New York City in 2016. The company’s investors include Juxtapose, Goodwater Capital, Tusk Venture Partners, Bullish, RRE Ventures, and funds managed by Goldman Sachs Asset Management.
Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. Its products and services are designed to benefit people by supporting efforts to overcome the major challenges presented by a growing and aging global population. At the same time, the Group aims to increase its earning power and create value through innovation and growth. Bayer is committed to the principles of sustainable development, and the Bayer brand stands for trust, reliability and quality throughout the world. In fiscal 2019, the Group employed around 104,000 people and had sales of 43.5 billion euros. Capital expenditures amounted to 2.9 billion euros, R&D expenses to 5.3 billion euros.
