Twinlab Consolidated Holdings Inc. and Farmingdale, N.Y.-based Nutricap Labs LLC announced the Feb. 6 acquisition of Nutricap's book of contract manufacturing business by the Company's subsidiary NutraScience Labs Inc.
"For the past decade, Nutricap has been a fast-growing leader among standalone contract manufacturing businesses," said TLCC CEO Tom Tolworthy. "We believe that the integration of Nutricap's robust book of contract manufacturing business into the broader branded and contract manufacturing infrastructure owned by the Company will not only bring significant accretive value to the Company and its shareholders, but of equal importance will provide an increased level of product options and services to Nutricap's and TLCC's customers."
"For some time, I have recognized that in order to meet their ever-expanding demands for unique high-quality products, our customers needed immediate access to the type of development, quality platforms and resources that are found only in a company of a certain size like TLCC and which owns its own manufacturing facility," explained Nutricap CEO Jonathan Greenhut. "When this opportunity presented itself, we recognized that this was a perfect fit and the right home for the continued success of our customers."
The contract manufacturing business of NutraScience Labs will be headed up by Steve Rolfes, president of the Contract Manufacturing Division of TLCC's subsidiary, Twinlab Consolidation Corp. "Through NutraScience Labs, we intend to leverage our significant product development and manufacturing infrastructure to provide customers with the highest levels of product choice, product quality and service across a broad range of products and dose forms," said Rolfes.
Added Tolworthy, "As we continue to execute upon our strategy of accretive growth through acquisition, we believe the value created by Jonathan Greenhut and Nutricap in the assets acquired by NutraScience Labs will serve as a strong foundation for immediate acceleration of the Company's position in the contract manufacturing channel. Not only do we intend to dedicate ourselves to continued best-in-class service for Nutricap's customers, but to establish ourselves as the best-in-class option for the broad market of nutritional supplement customers with contract manufacturing needs."