November 23, 1999

1 Min Read
GNC Parent to Acquire Food Supplement Company

AMSTERDAM, The Netherlands--Dutch food group Royal Numico NV, which bought General Nutrition Companies (GNC) earlier this year, announced Nov. 4 that it had reached a preliminary agreement to buy Orem, Utah-based Enrich International, a U.S. food supplement manufacturer and supplier. Enrich will operate as a wholly owned subsidiary of Numico and will retain its current management team, which includes Richard Bizarro, former president of Weider, which is also based in Utah.

Financial details of the pending transaction were not disclosed, but Enrich reported a turnover of $178.3 million based on sales to 14 countries, including the United States, Japan and New Zealand. The company also reported a distribution network of more than 100,000 distributors.

Numico paid $2.5 billion for GNC in August 1999, creating a global food supplement giant with sales of more than $3 billion annually. Numico's vast research capabilities and expertise, including a large number of Ph.D. holders, was once again cited as a reason behind the acquisition.

"Joining the Royal Numico family provides Enrich with financial strength, manufacturing capabilities and research and development resources unmatched in the network marketing industry," said Bizarro. He stated that these resources will enable Enrich to expand into new international markets while maximizing growth in its current markets. Numico reported that its acquisition of Enrich will increase development of proprietary nutritional and personal care products.

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