Investor Taunts Omega Protein, Suggests Ripe Conditions For Sale
This article was originally published in The Tan Sheet
Executive Summary
Wynnefield Capital, in an SEC filing, includes a letter it sent to Omega Protein noting M&A activity in the fish product market creates promising conditions for the firm’s sale. The group also makes candid observations about its lack of faith in Omega Protein’s management.
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In Brief
Ramirez appointed FTC chair; budget sequester slows FDA travel, training; ChromaDex divests BluScience brand; Omega Protein buys whey firm; Vitamin Shoppe absorbs integration costs; Vitacost trims net loss in Q4; chemical regulation champion Lautenberg to retire; USANA expands in China.
Omega Protein Diversifies In Nutritionals, But Draws Short-Term Doubts
Omega Protein acquired Cyvex Nutrition and InCon Processing in the past 15 months to enter the dietary supplement market and vertically integrate its omega-3 fish oil supply chain. The firm gained from a one-time settlement payment in 2011, but saw underlying earnings fall.
Monetary Relief Slim From Dietary Supplement Multi-level Marketer Operating Pyramid Scheme
Federal judge found for FTC on all counts in its complaint against defendants linked to MLM selling Success By Health supplements through affiliates, or independent sales associates. But damages limited to $6,829 for five instances of rejecting consumer requests for refunds after shipping delay.