UPDATE 1-TPG Growth takes 25 pct stake in Schiff Nutrition

* TPG Growth buys stake for $48.8 mln

* Schiff Nutrition appoints two TPG executives

* Schiff Nutrition shares up 4.5 pct

Oct 15 (BestGrowthStock) – Schiff Nutrition International Inc
(WNI.N: ) said TPG Growth, an investment arm of private
investment firm TPG, bought around a 25 percent stake in the
company from Schiff Nutrition’s majority shareholder Weider
Health and Fitness for $48.8 million.

Shares of the Salt Lake City, Utah-based company jumped
almost 10 percent in pre-market trading on Friday, and were up
4.5 percent in early trade at $7.94.

TPG Growth purchased 7.487 million shares of Class B common
stock, which automatically converted to Class A common stock on
a one-to-one basis, Schiff Nutrition said in a statement.

Weider Health and Fitness CEO Eric Weider will continue to
serve as Schiff Nutrition’s chairman, and the company appointed
two TPG Growth executives — William McGlashan and Matthew
Hobart–to its board.

Schiff Nutrition’s rivals include Nutraceutical
International Corp (NUTR.O: ), Perrigo (PRGO.O: ) and U.S.
nutritional supplements maker NBTY Inc, which was bought by The
Carlyle Group [CYL.UL] in July.

TPG Capital LP [TPG.UL] had also looked at buying NBTY,
several sources familiar with the matter had told Reuters.
[ID:nSGE66E0FY]
(Reporting by NR Sethuraman in Bangalore, Editing by Ian
Geoghegan)

UPDATE 1-TPG Growth takes 25 pct stake in Schiff Nutrition