Herbalife Ltd., a global nutrition and direct-selling company, announced today that its agreement to buy certain assets of Micelle Laboratories, an Orange County, Calif. contract manufacturer of food and nutritional supplements, has closed. Herbalife purchased the assets in order to strengthen its global manufacturing capabilities for approximately $10 million in an all cash deal.
Over the next year, Herbalife expects to invest up to $10 million in equipment and overall enhancements to increase plant capacity and capability to produce products for shipment throughout North America and several of its international markets.
Herbalife now employs approximately 1,200 employees in the greater Los Angeles area, with other facilities in Carson, Torrance, Van Nuys and downtown Los Angeles.
Herbalife Ltd., is a global network marketing company that sells weight-management, nutrition, and personal care products intended to support a healthy lifestyle. Herbalife products are sold in 70 countries through a network of over 1.9 million independent distributors. The company supports the Herbalife Family Foundation and its Casa Herbalife program to help bring good nutrition to children. Herbalife's Web site contains a significant amount of information about Herbalife, including financial and other information for investors at http://ir.herbalife.com. The company encourages investors to visit its Web site from time to time, as information is updated and new information is posted.