Vitamin maker Jamieson Wellness makes its debut on TSX, eyes growth

TORONTO — Jamieson Wellness is banking on an aging population and rising disposable incomes to help accelerate a five-year expansion plan, the head of the company says as its stock soared on its debut Friday on the Toronto Stock Exchange.

For nearly a century, the Toronto-based maker of vitamins, minerals and other supplements has capitalized on consumer appetite to live healthy — and it is counting on that to grow.

“There is a global health and wellness mega-trend that is going on that affects everyone, no matter which country you’re in,” president and CEO Mark Hornick said in an interview before the company went public.

“People want to live longer and they want a higher quality of life. They want to prevent health concerns before they become problematic.”

Jamieson sold $300 million worth of its shares though its initial public offering and a secondary offering priced at $15.75 per share.

At the close on Friday, its shares were at $17.30, up 9.84 per cent.

The company plans to use the money raised from its share of the offering to repay debt and its preferred shareholders.

According to market research firm Euromonitor, the Canadian vitamin and multivitamin industry was worth $431.7 million last year.

Jamieson said it controls about 25 per cent of the vitamin market in Canada. It also sells other products, including natural sleep aids, herbal extracts and natural beauty and skin care products.

Jamieson said that in addition to increasing its sales in Canada, where it has more than 500 products in 10,000 stores, it is focused on growing its presence internationally, particularly in markets such as Asia, Eastern Europe and the Middle East.