QUEBEC CITY— Atrium Innovations Inc. (TSX:ATB) acquired the assets of Trophic Canada, a leading manufacturer and distributor of dietary supplements to the Canadian health food retail market. The acquisition includes the Trophic and Wild Rose brands, which encompass 150 products sold in more than 900 specialized health food stores in Canada. Trophic’s annual revenues are approximately US$7.5 million; Atrium acquired Trophic’s assets for a total cash consideration of approximately US$11 million.
“The acquisition of Trophic will provide Atrium with a stronger and complementary foothold and greater visibility in the Canadian market,” said Pierre Fitzgibbon, Atrium’s president and CEO. “Trophic’s respected brands are supported by a well established access to the health food store channel. The two brands’ high quality products, approach to science and market positioning are a perfect fit with Atrium’s DNA. We see considerable potential to grow Trophic and leverage its distribution strength by adding complementary products and by gaining direct access to the specialty retailers in the Canadian market. As we are a relatively small player in the Canadian market, this transaction clearly signals our accelerating emphasis on growing Atrium in its multi-channel strategy and our aim of assuming a major role in our domestic market.”
