Bloomberg

(Bloomberg) -- Lonza Group AG agreed to buy InterHealth Nutraceuticals for as much as $300 million, the Swiss company’s first major deal for almost five years.

The acquisition of the nutritional ingredients company from Kainos Capital is expected to add to earnings immediately, Basel-based Lonza said in a statement on Monday. The drug-ingredient maker is paying about 10 times InterHealth’s earnings before interest, taxes, depreciation and amortization, it added.

Chief Executive Officer Richard Ridinger is opening the purse strings to M&A after years of restructuring following the purchase of Arch Chemicals Inc. for $1.35 billion in 2011.

To contact the reporter on this story: Andrew Noël in London at anoel@bloomberg.net. To contact the editors responsible for this story: Tara Patel at tpatel2@bloomberg.net, Andrew Noël

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