HAUPPAUGE, N.Y.--(BUSINESS WIRE)--April 1, 2002--Twinlab Corporation (Nasdaq:TWLB) today announced that it has signed a Letter of Intent to sell its Health Factors International ("HFI") Division in Tempe, Arizona to Anabolic Laboratories of Irvine Ca.
The closing of the transaction is subject to the completion of due diligence and the execution by the parties of a definitive agreement containing customary terms and conditions for a transaction of this nature.
Anabolic Laboratories, Inc., founded in 1925, provides the manufacturing of nutritional supplements to key companies serving the natural foods and mass market consumer. In addition to being recognized as a quality leader by organizations such as the National Nutritional Foods Association (NNFA), Anabolic Laboratories, Inc. is an FDA registered pharmaceutical manufacturer. Anabolic Laboratories, Inc. provides both contract manufacturing and private label services.
Twinlab Corporation, headquartered in Hauppauge, N.Y., is a leading manufacturer and marketer of high quality, science-based, nutritional supplements, including a complete line of vitamins, minerals, nutraceuticals, herbs and sports nutrition products.
Except for historical information contained herein, this release contains, within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, forward-looking statements that are based on management's beliefs and assumptions, current expectations, estimates and projections. Many of the factors that will determine the Company's financial results are beyond the ability of the Company to control or predict. These statements are subject to risks and uncertainties and therefore actual results may differ materially. The Company disclaims any obligation to update any forward-looking statements whether as a result of new information, future events, or otherwise. Important factors and risks that may affect future results include but are not limited to: (i) the impact of competitive products; (ii) changes in law and regulations; (iii) adequacy and availability of insurance coverage; (iv) limitations on future financing; (v) increases in the cost of borrowings and unavailability of debt or equity capital; (vi) the effect of adverse publicity regarding nutritional supplements; (vii) uncertainties relating to acquisitions; (viii) the inability of the Company to gain and/or hold market share; (ix) exposure to and expense of resolving and defending product liability claims and other litigation; (x) consumer acceptance of the Company's products; (xi) managing and maintaining growth; (xii) customer demands; (xiii) the inability to achieve cost savings and operational efficiencies; (xiv) dependence on individual products; (xv) dependence on individual customers, (xvi) market and industry conditions including pricing, demand for products, levels of trade inventories and raw materials availability, (xvii) the success of product development and new product introductions into the marketplace; (xviii) lack of available product liability insurance for ephedra-containing products; (xix) slow or negative growth in the nutritional supplement industry; (xx) loss or retirement of key members of management; (xxi) the absence of clinical trials for many of the Company's products; (xxii) the ability of the Company to efficiently manufacture its products; as well as other risks and uncertainties that are described from time to time in the Company's filings with the Securities and Exchange Commission, copies of which are available upon request from the Company's investor relations department.