Weider Nutrition International sells Weider Brand assets
Will receive $14.0 million in exchange for assets relating to the domestic Weider branded business.
04/04/05 Weider Nutrition International, Inc. has announced the sale of certain assets of its Active Nutrition Unit relating to its Weider branded business domestically and internationally to Weider Global Nutrition, LLC, a wholly owned subsidiary of Weider Health and Fitness, a privately held company headquartered in California and the majority stockholder of the company.
The terms of the transaction provide that the company will receive $14.0 million in exchange for assets relating to the domestic Weider branded business, including inventory, receivables, and intangible and intellectual property, the capital stock of certain of the company's international subsidiaries related to the international Weider branded business (including the working capital of those subsidiaries), and the assumption of certain associated liabilities by Weider Global Nutrition. The transaction closed on April 1, 2005, with an effective date of March 1, 2005.
