US nutritional supplement company NBTY has announced the acquisition of SISU, a Canadian-based manufacturer and distributor of a well-established brand of premium quality vitamins and supplements sold to the independent health food stores.
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SISU is headquartered in Burnaby, British Columbia and had sales of approximately US$14 million (USD) for fiscal year ended 30 September 2004.
SISU has been in business for over twenty-five years. The purchase price is $5.7m in cash. In addition, NBTY will repay SISU’s indebtedness of $2.5m. Included in the acquisition are net assets of approximately $330,000.
“SISU will play a key role in expanding NBTY’s presence in Canada,” said NBTY chairman and CEO, Scott Rudolph. “The SISU brand name is solidly entrenched with Canadian consumers. We continue to be committed to the independent health food stores. With our financial strength and proven management expertise, NBTY remains the predominant consolidator in the nutritional supplement industry.”
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