WholePeople.com Launch Aims To Revive Struggling Amrion Business
This article was originally published in The Tan Sheet
Whole Foods Market remains "optimistic" that the recent sluggish performance of its former Amrion subsidiary can be reversed with new marketing support under the WholePeople.com e-commerce venture.
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Amrion may be on the selling block due to a soft supplements market and unfavorable investment results. The supplement manufacturer and direct marketer's parent company, Whole Foods Market, retained the investment banking firm Dain Raushcer Wessels to help it consider "strategic alternatives."
A new plan to restructure Amrion will bring profitability to the struggling dietary supplement direct marketer "by the end of fiscal year 2001," parent company Whole Foods Market predicted.
Whole Foods Market announces Jan. 14 the formation of WholePeople.com, an e-commerce company offering products such as nutritional supplements, herbals and alternative/holistic health care items. WholePeople has issued $35 mil. in common stock to the venture capital firms Oak Investment Partners, Invesco Private Capital, North Castle Partners and Essex Woodlands Health Ventures in exchange for a 22% minority interest in the company. Whole Foods, which owns the supplement firm Amrion, initially created WholePeople as a subsidiary