Natrol, Inc. Establishes Subsidiary in the United Kingdom; Company Set to Expand Presence in UK Market; Hires Industry Expert Margaret Peet to Lead Operation
The Company announced the establishment of a United Kingdom subsidiary, Natrol UK Ltd. At the same time, the Company announced the retention of Margaret Peet to lead the overall operations of Natrol UK Ltd.
"As we continue with our strategy of solidifying our core business, and developing growth platforms from a position of strength, a commitment to the European marketplace is clearly appropriate," stated Wayne Bos, President and Chief Executive Officer of Natrol, Inc. "Less than 10% of our revenue is derived from international sales today. Establishment of Natrol UK Ltd. will allow us to pursue additional organic revenue growth overseas. We will continue to support current distribution while capitalizing upon new opportunities. Our new presence, coupled with Margaret Peet's outstanding leadership and industry experience, will provide greater local capability and a better understanding of the marketplace, our customers and our distributor network."
Margaret Peet added, "I am very excited to be leading Natrol's new international development initiatives. I will be heading a business that already has a significant presence in the United Kingdom, with strong sales of approximately 40 different product offerings. The Natrol(R) and Prolab(R) Sports Nutrition brands have established a trusted position amongst a select group of retailers. The opportunity now is to leverage that platform with wider retail representation and an expanded range of Natrol, ProLab and Laci Le Beau(R) Tea products."
Margaret Peet brings almost 25 years of experience in the health and nutrition industry. She began her career in the industry by operating a single health food store, and built the business into a multi-store chain. The company was sold to GNC in 1995. She moved her family to the United States after accepting the position of Senior Vice President and National Sales Director for GNC, where she was responsible for sales and purchasing for approximately 5,000 stores across the United States and Canada. Ms. Peet is also founder of Healthy Inspirations Ltd., a company that provides strategic planning and consulting services to nutritional products companies seeking to enhance their market presence in the United Kingdom and Europe. A winner of the Woman in Business Enterprise Award, Ms. Peet and Healthy Inspirations were three-time winners of the UK Health Retailer of the Year. She is a frequent guest speaker at nutritional supplements industry events and seminars.
Elliott Balbert, Founder and Executive Chairman of Natrol, Inc., stated, "We are delighted to be incorporating our first international subsidiary in the United Kingdom, and to have appointed Margaret Peet as its leader. She has a deep understanding of the UK marketplace and of the needs of the UK's key healthy lifestyle retailers."