Vitamin Shoppe acquires vitamin manufacturer
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
Ulta Beauty names Motorola Mobility CFO to board
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.
The OurPet’s Company taps marketing VP
The OurPet’s Company, a leading proprietary pet supply company, has promoted Gabriella DeSantis to VP of marketing.
DeSantis joined the company in July 2012 as senior director of marketing and has been responsible for overseeing the execution of the company’s new two-brand marketing strategy. The company also credits her with the successful launch of several new products.
DeSantis has more than 20 years of marketing experience in the pet and consumer packaged goods industries. Previously, she held positions as marketing director at United Pet Group and as senior marketing manager for Health Care Products.
"Gabriella has excellent education and experience related to all facets of marketing,” said Dr. Steve Tsengas, chairman and CEO. “She has been instrumental in guiding The OurPet’s Company though its critical transition related to our two brand strategy — OurPet’s brand for the pet specialty segment and Pet Zone brand for the food, drug, and mass-market retail segment. She has also concentrated in building a professional marketing team that will have a positive impact not only in branding and packaging, but also in product management and sales. Gabriella’s dedicated efforts to make OurPet’s a top performer in the pet industry will help assure our continued success."
DeSantis earned her B.S. in business administration and marketing/advertising from Long Island University and her MBA in marketing management and corporate finance from Pace University in New York.
The OurPet’s Company designs, produces and markets a broad line of pet products and accessories in the United States and overseas. The OurPet’s Company has an extensive intellectual property portfolio with more than 225 patents in either issued or pending status.