Omega Protein, Herbalife, MET-Rx: Health And Wellness Industry News
This article was originally published in The Rose Sheet
Omega Protein has new home at Canadian aquaculture firm; Herbalife on target with buy-back tender volume, price; and MET-Rx scores Bellinger for promotions.
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Omega Protein stockholders vote Dec. 19 on proposed acquisition by Cooke; Endexx acquires Holistic Earth Remedies to improve timing for CBD product commercialization; Dr. Axe brands protein; and more health and wellness industry news.
Consumer health product industry veteran executive Paul Sturman takes the helm at Nature's Bounty Co. on the day that private equity firm Kohlberg Kravis Roberts & Co. LP closed its acquisition of a controlling interest in the nutritional and health and wellness product manufacturer from Carlyle Group LP. The Ronkonkoma, N.Y.-based firm on Sept. 28 said Sturman has more than 30 years of experience in the sector, including leading Pfizer Inc.'s consumer product group and is a past chairman of the Consumer Healthcare Products Association. (Also see "KKR Steers Nature's Bounty With Carlyle In Back Seat After Seven-Year Ride" - HBW Insight, 24 Jul, 2017.) Sturman succeeds Steve Cahillane, the second CEO Carlyle appointed in 2014 after acquiring Nature's Bounty, then NBTY Inc., in 2010 and taking the firm private. (Also see "Carlyle Group Gives NBTY Helm To Former Coca-Cola Executive Cahillane" - Pink Sheet, 20 Aug, 2014.)
Herbalife commences a $600m share repurchase after discussion with Carl Icahn to take the company private ended. The move intensifies the battle between Icahn and Bill Ackman, who has bet $1bn that the direct sales firm will fail.