BETHESDA, Md., Dec. 12, 2013 /PRNewswire/ -- Nutroganics, Inc.
(OTC: NUTT) ("Nutroganics") announced today that it has signed an
LOI to acquire NuStar Nutritional Manufacturing, LLC ("NuStar"), a
state of the art, specialty, nutritional manufacturing facility in
Orem, UT. NuStar specializes in
manufacturing liquid, gel, and powder nutritional supplements in
single and multiple dose flexible packets, pouches, and containers.
NuStar's capabilities include formulating, sourcing, blending,
mixing, batching, filling, and packing nutritional products for
customers. NuStar generated approximately $3
million in revenue over the past year. The completion
of the transaction is subject to customary closing conditions. The
terms of the transaction were not disclosed.
David Sackler, Nutroganics'
President & CEO, said, "We are very pleased with the prospect
of NuStar becoming part of Nutroganics. The acquisition of NuStar's
business, together with its state-of-the-art manufacturing
facilities, will provide Nutroganics with the resources to take
advantage of co-packing opportunities with our brand partners, as
well as capitalize on our many years of relationships to expand
upon an already impressive roster of customers."
About Nutroganics:
Nutroganics, Inc. seeks to acquire and grow revenue-generating
businesses operating in the healthy lifestyle marketplace, and
seeks to capitalize on synergies from manufacturing through
distribution. In May 2013,
Nutroganics acquired Silverbow Honey Company, a producer and
packager of honey products founded in 1945 and based in
Moses Lake, Washington.
Forward-Looking Statements:
This release may contain forward-looking statements, which
involve known and unknown risks, uncertainties, and other factors,
which may cause Nutroganics' actual results, performance, or
achievements to be materially different from actual future results
expressed or implied by the forward-looking statements. We
undertake no obligation to update any forward-looking statements
after the date of such statements.
For more information, contact David
Sackler at dsackler@nutroganics.com or at
(516)-513-5113.
SOURCE Nutroganics, Inc.
