Weider divests Haleko
This article was originally published in The Tan Sheet
Executive Summary
Weider Nutrition will sell its European subsidiary Haleko to Croatian holding company Atlantic Grupa, the firm announces June 17. Weider will receive roughly $15 mil. in exchange for the capital stock and partnership interests of Haleko's international subsidiaries, the firm adds. Haleko produces and markets brands such as Multipower and Multaben sports nutrition products. The sale allows Weider to focus on its core supplement business, specifically the Schiff Move Free line, with new product initiatives and acquisitions to complement its existing brands, the firm states. Sub-par performance by certain Haleko brands contributed to a 2% reduction in Weider's third-quarter sales and a 53% decline in earnings, the firm noted in April (1"The Tan Sheet" April 11, 2005, p. 18)...
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