News

PriceGrabber, Channel IQ partner for e-commerce tool

BY Dan Berthiaume

Los Angeles — PriceGrabber has partnered with Channel IQ, to power "Buy Online", Channel IQ’s latest product that will be available to consumers early this summer. Powered by PriceGrabber’s shopping content, Channel IQ’s "Buy Online" solution allows manufacturers to offer consumers a way to find and purchase their desired product from authorized retailers and ecommerce sites.

With "Buy Online" implemented, shoppers will be able to view relevant retailer information, up-to-date pricing data, and click through for a transaction straight from the manufacturer’s website.

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Vitamin Shoppe acquires vitamin manufacturer

BY Dan Berthiaume

North Bergen, N.J. — Vitamin Shoppe Inc. has purchased FDC Vitamins LLC, doing business as Nutri-Force Nutrition, a contract manufacturer of vitamins, minerals and supplements, from MBF Healthcare Partners L.P. and other minority holders. Nutri-Force is a current manufacturer for Vitamin Shoppe as well as for other domestic and international customers and distributors.

The transaction was structured as a purchase of FDC Vitamins LLC equity by a wholly-owned subsidiary of the Vitamin Shoppe. The purchase price is approximately $85 million which includes a $5 million earn out based on 2014 financial performance.

The purchase price will be paid with available cash. The acquisition of Nutri-Force is expected to be neutral to slightly accretive to 2014 earnings per share, excluding transaction and integration costs. Vitamin Shoppe also said the purchase extends its capabilities into manufacturing and strengthens product development

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Ulta Beauty names Motorola Mobility CFO to board

BY Dan Berthiaume

Bolingbrook, Ill. — Vanessa Wittman, senior VP and CFO of Motorola Mobility, a subsidiary of Google, has been appointed the Ulta Beauty board of directors and as a member of its audit committee, effective June 5, 2014, following her election at the company’s annual shareholder meeting. Wittman joins the Ulta Beauty board with more than 25 years of experience in finance and technology.

At Motorola Mobility, she leads the teams overseeing all financial activities as well as the teams in charge of strategy, real estate, workplace services and information technology. Prior to joining Motorola Mobility in 2012, Wittman served for four years as executive VP and CFO of Marsh & McLennan Companies, Inc., a professional services company. She previously held CFO roles at cable television company Adelphia Communications, telecommunications services provider 360networks, and software developer and consulting group Metricom, Inc.

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