ORLANDO, Fla.--(BUSINESS WIRE)--Oct. 31, 2002--Bio-One Corporation (OTCBB:BICO) has signed an agreement to acquire a highly profitable 16-year leader in the distribution of branded nutritional supplements. The $18 million annual revenue business is well-established and experiencing healthy growth. The Company develops proprietary brand name diet, anti-aging, and beauty, nutritional products that are sold to consumers via direct mail, the Internet and infomercials. They have built a solid reputation for consistent high quality and customer service. The terms of the acquisition include all cash. The parties anticipate closing of the transaction within the next 60 days.
Armand Dauplaise, the Bio-One President and CEO stated that, "Our management team has been working diligently to identify the appropriate company for our first acquisition. This business meets our strict criteria of a consistent track record of growth and profits in the distribution of nutritional supplements direct to the consumer."
Mr. Dauplaise concluded, "This acquisition agreement is the first of the initially targeted group of well-managed companies representing collective revenues in the range of $40 to $45 million and EBITDA of $5 to $7 million. We have had numerous meetings with the selected acquisition targets and anticipate further announcements in the coming months."
Bio-One Corporation is an emerging growth company that is embarking on building a significant business in the nutritional supplements industry via vertical integration mergers and marketing consolidation in Florida and the Southeast. The Company's home state, Florida, ranks second only to California in nutritional supplement sales and ranks first nationally in per capita consumption. The Company's goal is threefold; 1) to uniquely serve people worldwide who desire vitality and longevity; 2) to interface a quality and value growth philosophy through mergers and marketing consolidation; 3) to provide an outstanding return on investment for Company shareholders.
Certain statements released by Bio-One Corporation that are forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities 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.