USA: Nutri/System, Inc. changes its company name to encompass additional product line
Nutri/System, Inc. (Nasdaq:THIN) announced that it has changed its company name from nutrisystem.com inc. to Nutri/System, Inc. effective immediately. Nutri/System, which operates the leading web site for the weight loss community, recently acquired the Sweet Success® line of diet meal replacement products from Nestle USA. "With the acquisition of Sweet Success®, we now serve the weight conscious consumer both on the Internet and in stores. The Nutri/System name has long been associated with weight loss, and we believe it will enable us to effectively connect with our entire target market, in stores and on the web," said Brian Haveson, Chief Executive Officer of Nutri/System, Inc. Nutri/System completed the acquisition of the Sweet Success® product line on August 25, 2000. The product line, which is sold only through retail outlets and includes a ready to drink weight loss shake, powdered mix and snack bars, generated about $40 million in sales in 1999. Nutri/System will continue to promote Sweet Success as an effective meal replacement for weight loss.
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