EDMONTON, ALBERTA, Jan 17, 2006 (CCNMatthews via COMTEX) -- Planet Organic Health Corp. (CA:POH), Canada's leading natural products retailer, announced today it will be acquiring a 7-store health-food chain in the greater Toronto area.
Healthy's Nutrition Centres have been operated for 15 years by Ameen Ferris, the company President, and his brother Mirwan. Both founding members will be staying on to manage the existing locations and to further develop the Ontario market for Planet Organic corporate vitamin stores. Healthy's Nutrition Centres are located in major shopping centres throughout the Toronto area and offer a complete range of health supplements and personal care products.
"Healthy's is a great addition to the Planet organization; they're a profitable company, they have an established clientele and are situated in prime shopping malls throughout the heart of Toronto" said Darren Krissie, Planet's VP Corp Development & CFO. "Healthy's gives us the opportunity to grow the Ontario market with corporate-branded vitamin stores, thereby increasing our profitability and share value."
Krissie pointed out that Planet Organic Health Corp has continued to achieve its growth targets. "We have grown a staggering 1400% since 2001 and have been consistent in choosing winning acquisitions which add value for our shareholders.
Planet Organic Health Corp. was recently recognized as one of the Top 50 Companies on the TSX Venture Exchange.
The Healthy's Nutrition Centres deal is subject to customary due diligence. Further information regarding the acquisition will be released upon closing.
ABOUT PLANET ORGANIC
Planet Organic Health Corp. (CA:POH), is a natural products industry company, comprising manufacturing, distribution and retail. The company operates natural food supermarkets in Edmonton, Victoria, Calgary, Port Coquitlam and Halifax under the Planet Organic Market banner. In addition, the company operates 47 natural health outlets under the Sangster's Health Centre banner. Another POHC company, Trophic Canada is the country's leading manufacturer of natural supplements.