A Service For Professionals Saturday, October 21, 2017
Contact (202) 540-8337
Company News Today
A Service For Professionals Saturday, October 21, 2017 11614 Sources 411,049,964 Articles 3,134,516 Readers
Contact (202) 540-8337

Martek Biosciences To Buy Amerifit Brands

January 22, 2010 (FinancialWire) — Martek Biosciences Corp. (NASDAQ: MATK) said it has entered into an agreement to purchase Amerifit Brands Inc., a consumer health and wellness company, from Charterhouse Group, Inc. in an all-cash transaction valued at $200 million, subject to working capital adjustments.

Amerifit Brands develops, markets and distributes branded consumer health and wellness products focused on women’s and digestive health benefits. The company’s products are sold in most mass, club, drug, grocery and specialty stores.

Under the terms of the transaction, Martek will pay consideration of $200 million, subject to working capital adjustments, of which $120 million will be paid from Martek’s current cash reserves and the remainder from a new credit facility, which has been established by Martek.

Martek said it expects the transaction to be accretive to Martek’s earnings in fiscal 2010. Expense synergies are not expected. The transaction is scheduled to close in Martek’s second fiscal quarter.

Martek Biosciences is engaged in the development of omega-3 DHA products.

FinancialWire(tm) is committed to serving the financial community through true journalism and providing relevant resources to investors. Standards-based, independent equity research on numerous public companies is available through the Investrend Research Syndicate (http://www.investrend.com/reports) written by FIRST Research Consortium (http://www.investrend.com/FIRST) member-providers. Free annual reports and company filings for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/?level=279). FinancialWire(tm), in cooperation with the Investrend Broadcast Syndicate, also provides complete, daily conference call and webcast schedules as a service to shareholders and investors via the FirstAlert(tm) Network’s “FirstAlert(tm) Daily” (http://www.financialwire.net/news-alerts/).

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) website (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Powered by EIN Presswire