ORLANDO, Fla., Jun 21, 2004 /PRNewswire-FirstCall via COMTEX/ -- Bio-One Corporation (BICO) announced today that its recently formed subsidiary ANI Distribution, Inc. has acquired the assets of Florida Sport Nutrition Distributors, Inc. Purchase terms for the company included a cash payment of $175,000 and notes totaling $175,000. The Tampa, Florida based business is a wholesale distributor of nationally branded nutritional supplements with approximately $2 million in 2003 sales.
ANI Distribution President and CEO Ismael Gonzalez said, "ANI represents approximately 25 of North America's leading supplements manufacturers. With the acquisition of Florida Sport Nutrition, we have strengthened our regional distribution capabilities with a second distribution center. Our distribution channels include retailers representing independents, large and small chain vitamin outlets, health clubs and convenience stores throughout the southeast. The ANI management team has over 25 years of experience in the natural products industry. We understand and promote health and fitness, while specializing in categories such as sports nutrition, low carb products, nutraceuticals, nutrition and performance beverages."
Bio-One President and CEO Armand Dauplaise said, "We believe this will be a highly synergistic acquisition. We expect to increase sales and revenues for all Bio-One subsidiaries by providing access to expanded distribution channels. This is our sixth acquisition since September 2003. We are pursuing additional synergistic candidates in North America and China that meet our criteria."
Bio-One Corporation is a nutritional supplements company serving the preventive and alternative healthcare segments. The company intends to acquire additional businesses in order to provide quality nutraceuticals to consumers through vertical integration of manufacturing, distribution and marketing. Current Bio-One subsidiaries include PNLabs, American Nutritional Exchange, Interactive Nutrition International, Nutrition Sciences Corporation, WeiFang Shengtai Pharmaceuticals Co. Ltd. and ANI Distribution.
Bio-One Corporation is committed to its mission of the continuing pursuit of excellence in serving its customers, suppliers, team members and shareholders. Bio-One is confident that it will accomplish its mission and goals through the application of its management philosophy, which is to treat others the way they would want to be treated themselves.
Certain statements released by Bio-One Corporation that are forward- looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Editors and investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the company's business prospects and performance. These include, but are not limited to, economic, competitive, governmental, technological and other risks detailed in the company's registration statements and periodic reports filed with the Securities and Exchange Commission. By making these forward-looking statements, the company undertakes no obligation to update these statements for revisions or changes after the date of this release.