On June 1, 2022, Jamieson Wellness Inc. acquired Nutrawise Health & Beauty Corporation for CA$265 million (US$210 million), with additional contingent consideration tied to growth targets. The purchase was expected to close in Q3 2022, contingent on regulatory and customary closing conditions. Nutrawise, known for its youtheory brand, was seen as a strategic fit to bolster Jamieson’s expansion in the U.S. vitamin, mineral, and supplement (VMS) market, promising immediate accretion with 2022 pro forma revenues estimated between CA$212 to CA$218 million (US$155 to US$159 million) and Adjusted EBITDA of CA$38 to 40 million (US$28 to US$29 million). The transaction, considered a milestone by Jamieson’s CEO Mike Pilato, was funded by an expanded credit facility backed by BMO Capital Markets, National Bank of Canada, Royal Bank of Canada, and The Bank of Nova Scotia. Following the acquisition, Jamieson projected a prudent leverage level. Paul, Weiss, Rifkind, Wharton & Garrison LLP, and McCarthy Tétrault LLP were Jamieson’s legal advisors. Sellers were advised by William Hood & Company, with legal counsel from Greenberg Glusker LLP and Bowen Tax Law. BMO and RBC Capital Markets provided fairness opinions, endorsing the transaction's financial fairness to Jamieson.