Twinlab Consolidated Holdings Inc. (OTCPK: TLCC) ("TLCC" or the "Company") today announced that its wholly owned subsidiary Twinlab Consolidation Corporation ("TCC") has exercised its option for the right to acquire Boca Raton, Florida-based Organic Holdings LLC, distributor of premium nutritional supplement brand Reserveage™ Nutrition.
This transaction will bring together two highly recognized leaders in the dietary supplement industry and their complementary and combined strengths will position each company with new growth opportunities, while strengthening the dietary supplement industry as a whole. Each company has distinct and unique products tailored to meet the needs of today's health-conscious consumer, and well-known brands that are sold at retail, online and through various global distribution channels.
"Bringing our two companies together in partnership will build a strong foundation where creative and collaborative nutritional problem solving will shape the future of our industry standards. This combination will enable us to broaden our global reach, invest in new offerings and better service both our customers and consumers who rely on our products. Furthermore, we believe that by combining resources, we will be in a better position to execute our growth strategy and build scale on a global basis," said Naomi Whittel, chief executive officer of Reserveage Nutrition. "While our company has enjoyed great success over the past several years, we will greatly benefit from Twinlab's 47 years of industry leadership and experience and worldwide sales platform. We look forward to the opportunities this transaction will bring for our customers, partners and employees, and every member of our team will continue to provide the same high-quality service and standards Reserveage Nutrition has been known for."
Reserveage Nutrition is a leading innovator and market leader in the premium Beauty from Within and Resveratrol supplement categories. Reserveage Nutrition's family of health supplement brands has earned more than 25 awards in recognition of the innovation it has brought to the natural products industry.
TCC Chief Executive Officer Tom Tolworthy said, "Over the past five years under the stewardship of its visionary founder and CEO Naomi Whittel, Reserveage Nutrition has provided best-in-class nutritional supplements backed by gold standard science. The merging of our like-minded companies brings together two organizations that share common core values, similar cultures, and a shared vision about the future of the health and wellness sector." Tolworthy went on to say, "this combination of award winning brands with an integrated supply chain and captive manufacturing capability will generate broader, more innovative, and higher value offerings to customers in the natural products channel."
Tolworthy continued, "The value created by the combination of Reserveage Nutrition and TCC through significant operational synergies and scalable growth will accelerate our joint position as a leader in the health and wellness industry. We believe this transaction to be in the best interests of our shareholders, both near- and long-term, and look forward to reporting on our progress as a combined entity once the deal is finalized."
Darin Pastor, CEO of Capstone Financial Group, was instrumental in assisting TCC in meeting the requirements of its largest acquisition to date, and will continue to support TCC's strategy of focusing on accretive profitable growth. The proposed transaction is subject to due diligence and other factors and several key aspects and contingencies still need to be resolved prior to closing the transaction. Both companies anticipate the deal will close on or before Oct. 2, 2015.