Alticor, the $8 billion global network-marketing company behind the massive Nutrilite supplement brand, and Metagenics, a leading manufacturer and distributor of medical foods and nutraceutical products through the health practitioner channel, are joining forces. The companies announced on August 11 that they have entered into a joint venture agreement through which Alticor will obtain a substantial ownership interest in Metagenics, which has made a name for itself within the supplement industry with its strong focus on creating and marketing science-backed products directly to medical doctors and other healthcare practitioners.
Details of the agreement were not disclosed, but Metagenics’s current shareholders will continue to retain a significant interest in the company. Alticor, the parent company of Amway Corp. and Amway Global, surpassed the $3 billion sales market with its Nutrilite supplement brand in 2007, the company told Nutrition Business Journal last year. In North America, several hundred thousand independent business owners sell Nutrilite products, which are also available through Amway’s Website.
Metagenics is also a leader in the field of nutrigenomics and has made significant scientific investments in this area, which looks at how genes interact with specific nutrients, through its nutrigenomic research center. Nutrigenomics is also an area that Alticor has invested in with its Nutrilite brand.
Here’s what the two companies had to say about the deal:
“Today is an extraordinary day for Metagenics and its employees and customers around the world as we join forces with a partner that shares our commitment to science-based nutrition and wellness,” said Jeffrey J. Katke, chairman and CEO of Metagenics. “Alticor is an $8 billion global company with an unwavering dedication to research and the development of best-in-class products. We are confident that this joint venture will give Metagenics new opportunities to expand and grow—allowing us to further enhance the innovative product offerings our trusted healthcare professionals have come to expect.”
“Metagenics remains dedicated to its values,” Katke added. “We believe this joint venture, by giving us access to financial resources to support our internal growth and our acquisition strategy, will help Metagenics realize its vision of reversing the chronic illness epidemic. Metagenics will continue to operate as a stand-alone company, delivering medical foods and nutraceuticals through health care professionals around the world.”
“Alticor and Metagenics share a philosophy for promoting good nutrition, healthy living and natural science,” said Jim Weaver, vice president - Alticor Corporate Enterprises. “Each company boasts a deep commitment to science and nature with leading research and development teams dedicated to harnessing the power of plant-based, natural, scientific research. This joint venture fits into our strategy to bring complementary brands into our family of businesses, and we are pleased to be partnering with Metagenics’ world-class employees and management team.”