Salt Lake-based Weider Nutrition International Inc. said Wednesday it will sell certain assets of its Active Nutrition Unit to Weider Health and Fitness, a privately held California-based company that is the majority stockholder of Weider Nutrition.
The assets are in the Weider-branded domestic and international business.
Terms include a purchase price of about $7.6 million in exchange for assets relating to the domestic Weider-branded business, the capital stock of some of the company's international subsidiaries related to the international Weider-branded business, and the assumption of some debt by Weider Health and Fitness.
The transaction is expected to close in the fiscal 2005 second quarter.
For the fiscal year ended May 31, the Weider-branded business had net sales of about $28 million and had an operating loss of about $3 million.
Weider Nutrition develops, manufactures, markets and sells branded and private-label vitamins, nutritional supplements and sports nutrition products.