Nutraceutical Set To Acquire Arizona Health Foods

June 19, 2003

2 Min Read
Nutraceutical Set To Acquire Arizona Health Foods

PARK CITY, Utah--Nutraceutical International Corp. (NASDAQ:NUTR) announced June 19 it entered into a purchase and sale agreement to acquire the operating assets of Phoenix-based Arizona Health Foods Inc. through Nutraceuticals' subsidiary Fresh Vitamins Inc. Closing is subject to certain contingencies, but the acquisition should be completed on or before June 30 and no later than July 31. Purchase terms will be released following closing.

"Health food stores that focus on nutritional supplements are the heart and soul of our industry," said Bill Gay, chairman and chief executive officer of Nutraceutical International (www.nutraceutical.com). "As a supplier to Arizona Health Foods for many years, we believe this acquisition is an important part of our overall business strategy and will help us better understand our core customers."

Arizona Health Foods owns and operates a chain of 11 health food stores, which primarily sell branded nutritional supplements. Hal Cooper, president of the operation, noted his son, Greg, would remain with the company acting as vice president and general manager. He also stated the acquisition should help grow the Arizona Health Foods business. "We have been a leader in the sale of natural health products since 1968, and I believe Nutraceutical is the right partner to help us grow our business and serve our customers in today's competitive market," he said.

Nutraceutical is a large manufacturer and marketer of branded nutritional supplements sold to health and natural food stores. The company sells its branded products under several names, including Solaray®, NaturalMax® and, most recently, Nature's Life®. Nutraceutical's acquisition of Nature's Life was completed in mid-June. In addition, Nutraceutical publishes, prints and markets a line of books and booklets under the Woodland Publishing™ name. Nutraceutical also manufactures bulk materials for use in its own products and for sale to other manufacturers and marketers under the trade names Monarch Nutritional Laboratories™ and Great Basin Botanicals™.

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