Nutraceutical Completes Acquisition of Natural Balance
May 14 2004 - 4:29PM
PR Newswire (US)
Nutraceutical Completes Acquisition of Natural Balance PARK CITY,
Utah, May 14 /PRNewswire-FirstCall/ -- Nutraceutical International
Corporation is pleased to announce that it has completed the
previously reported acquisition of the Natural Balance(R) brand of
nutritional supplements by purchasing substantially all of the
operating assets of Natural Balance, Inc., a Colorado corporation,
through a newly formed subsidiary. The purchase price was
approximately $9 million in cash. As previously noted, 2003
pro-forma net sales of Natural Balance were in excess of $10
million based on estimated adjustments for certain customers and
product sales. ABOUT NUTRACEUTICAL Nutraceutical is an integrated
marketer, distributor, retailer and manufacturer of branded
nutritional supplements and other natural products sold primarily
to and through domestic health and natural food stores.
Internationally, Nutraceutical sells its branded products to and
through health and natural product distributors and retailers.
Nutraceutical's core business strategy is to acquire, integrate and
operate, from beginning to end, the marketing, distribution,
retailing and manufacturing operations of businesses in the natural
products industry. Nutraceutical believes that the consolidation
and integration of acquired businesses provides ongoing financial
synergies through increased scale and market penetration, as well
as strengthened customer relationships. Nutraceutical sells its
branded products under the trademarks Solaray(R), KAL(R), Nature's
Life(R), NaturalMax(R), VegLife(R), Premier One(R), Sunny Green(R),
Natural Sport(R), ActiPet(R), Action Labs(R), Thompson(R) and
FunFresh Foods(TM). Nutraceutical also sells branded bulk products
and unbranded custom blends under the trademarks Monarch
Nutritional Laboratories(TM) and Great Basin Botanicals(TM). Under
the name Woodland Publishing(TM), Nutraceutical publishes, prints
and markets a line of books and booklets to, among others, book
distributors, national retail bookstores and health and natural
food stores. Nutraceutical's neighborhood natural food markets
operate under the trade names The Real Food Company(TM) and Thom's
Natural Foods(TM) and its health food stores operate under the
trade name Arizona Health Foods(TM). Nutraceutical also distributes
the branded products of certain third parties. Nutraceutical
manufactures and/or distributes one of the broadest branded product
lines in the industry with over 3,000 SKUs, including over 600 SKUs
exclusively sold internationally. Nutraceutical believes that as a
result of its emphasis on innovation, quality, loyalty, education
and customer service, Nutraceutical's brands are widely recognized
in health and natural food stores and among their customers. The
Securities and Exchange Commission ("SEC") encourages companies to
disclose forward-looking information so that investors can better
understand a company's future prospects and make informed
investment decisions. Any statements contained herein that are not
statements of historical fact may be deemed to be forward-looking
statements. Without limitation, the words "may," "will," "should,"
"believes," "anticipates," "plans," "expects," "intends,"
"estimates" and similar expressions or the negative thereof, or
variations thereon, or similarly, discussions of strategy, although
believed to be reasonable, are intended to identify forward-looking
statements, although not all forward-looking statements contain
these words or discussions. There are a number of important factors
that could cause actual events or Nutraceutical's actual results to
differ materially from those indicated by such forward-looking
statements, including, without limitation, (i) changing domestic
and international market and political conditions; (ii)
interruption of business or negative impact on sales and earnings
due to acts of war, terrorism, bio-terrorism, civil unrest,
earthquake or disruption of mail service; (iii) changes in laws and
regulations, including adverse federal, state or foreign
legislation or regulation or adverse determinations or actions by
regulators; (iv) import/export controls with respect to products
sold into or purchased from foreign countries, as well as other
restrictions on the purchase or sale of Nutraceutical's products to
or from such countries; (v) unavailability of or interruption in
the supply of utilities, including electricity and
telecommunications; (vi) slow or negative growth in the nutritional
supplement industry; (vii) increased product competition; (viii)
adverse publicity regarding nutritional supplements; (ix) increased
costs, including raw material and labor costs, as well as increases
in the costs of borrowing (or the unavailability of adequate
credit); (x) inability of Nutraceutical to gain and/or hold market
share of its health and natural food store customers and bulk
branded products customers; (xi) loss or retirement of key members
of management; (xii) inability of Nutraceutical to successfully
implement its business strategy or plan or otherwise manage growth,
including Nutraceutical's ability to locate and consummate
advantageous acquisitions, or otherwise integrate or profitably
manage acquired operations, including the ability to retain
customers of existing and acquired operations; (xiii) product
development efforts and consumer acceptance of Nutraceutical's
products; (xiv) absence of clinical trials for many of
Nutraceutical's products; (xv) availability and price of raw
materials, including increased costs; (xvi) Nutraceutical's ability
to manufacture its products efficiently; (xvii) the mix of
Nutraceutical's products and their related profit margins; (xviii)
dependence on distributors and customers; (xix) sales and earnings
volatility; (xx) adequacy and availability of insurance coverage,
and any losses or damages sustained by Nutraceutical not covered by
insurance; (xxi) exposure to and expense of prosecuting, defending
and/or resolving and defending claims or litigation, including but
not limited to product liability claims, class action suits,
stockholder derivative suits, employment or labor related suits or
investigations, patent or trademark infringement suits and other
litigation which may arise from time to time; (xxii) other factors
discussed in Nutraceutical's filings with the Securities and
Exchange Commission or referenced in its press releases, and
(xxiii) other factors beyond Nutraceutical's control. In addition,
any forward-looking statements represent Nutraceutical's estimates
only as of the day of this press release and should not be relied
upon as representing Nutraceutical's estimates as of any subsequent
date. No assurance can be given that the future results covered by
such forward-looking statements will be achieved and readers are
cautioned not to place undue reliance on forward-looking statements
or historical results of Nutraceutical. While Nutraceutical may
elect to update forward-looking statements at some point in the
future, Nutraceutical specifically disclaims any obligation to do
so. For further details and a discussion of these risks and
uncertainties, see Nutraceutical's SEC filings, which are updated
from time to time, copies of which are available upon request from
Nutraceutical at 435-655-6106. (C) 2004 Nutraceutical Corporation.
All rights reserved. DATASOURCE: Nutraceutical International
Corporation CONTACT: Les Brown, Senior Vice President, Finance and
Chief Financial Officer of Nutraceutical International Corporation,
+1-435-655-6106
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