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NBTY Buying Leiner Health

Leiner Health Products, a bankrupt maker of vitamins and nutritional supplements, has agreed to sell its assets to NBTY (Nasdaq: NBTY) for approximately $230 million. North Castle Partners and Golden Gate Capital co-led a $650 million recap of Leiner Health back in 2004, before which North Castle had been the sole sponsor. That deal included around $131 million in equity from each firm, and gave North Castle a 3x return on its initial investment.