Dynamic Health plans acquisition of sports nutrition and performance drink distributor- DMI
DMI is engaged in wholesaling and distributing a wide variety of non-prescription dietary supplements, health food and nutritional products, performance drinks, tanning products, exercise accessories and other related products.
04/03/05 Dynamic Health Products, Inc. has announced that it has entered into an agreement and plan of merger to acquire Dynamic Marketing, Inc. (DMI), a sports nutrition and performance drink distributor with approximately $14 million in unaudited annual revenues.
DMI is engaged in wholesaling and distributing a wide variety of non-prescription dietary supplements, health food and nutritional products, performance drinks, tanning products, exercise accessories and other related products. DMI has distribution centers located in Cranston, RI and Henderson, NV, and is the second largest distributor of performance drinks in the United States.
Upon closing of the agreement, Dynamic will pay consideration in excess of $3 million, consisting of cash and stock. Closing of the transaction is subject to Dynamic's completion of due diligence, the completion of audited financial statements of DMI and other customary terms and conditions. Dynamic anticipates closing the transaction on or about March 31, 2005. Dynamic intends to complete a financing transaction to fund the payoff of non- assumable obligations of DMI at the closing of the acquisition.
Dynamic Health Products, Inc. is a rapidly growing developer, wholesaler and distributor of sports nutrition products, non-prescription drugs, dietary supplements, vitamins, health food and nutritional products, soft goods and other related products.
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