Feihe International completes Vitamin World acquisition January 22, 2018By Iris Dorbian
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Feihe International Inc has closed its previously announced acquisition of Vitamin World, a retailer of vitamins and supplements in the U.S. No financial terms were disclosed. Vitamin World, which filed for Chapter 11 bankruptcy protection in September, was backed by Centre Lane Partners.
PRESS RELEASE
HOLBROOK, N.Y. (PRWEB) JANUARY 22, 2018
Vitamin World, a premier retailer of vitamins and supplements in the United States, announced today that it has been acquired by Feihe International, Inc. Founded in 1962, Feihe is one of the leading producers and distributors of premium infant formula in China. Vitamin World USA Corporation will immediately work together with Feihe to strengthen domestic operations and expand the 40 year old brand, known for the industry’s highest quality products, into the Pacific Rim markets.
Michael Madden, CEO of Vitamin World states, “We are extremely fortunate to have such a strategic partner that not only truly understands our industry, but has the vision and ability to help Vitamin World rapidly gain significant global expansion.”
Youbin Leng, Chairman of Feihe International, Inc. states, “After several years of seeking to acquire a U.S. based vitamin and supplement brand, we couldn’t be more excited about the purchase and future of Vitamin World. The Chinese and Asian markets desire high-quality products focused on optimal health, and the Vitamin World brand exemplifies a commitment to excellence.”
Mr. Leng adds, “With Feihe’s current product lines and strong distribution network of over 50,000 locations, we are confident that we can rapidly achieve critical market share for the Vitamin World brand.”
About Vitamin World®
Vitamin World began its wellness journey in 1977 and has been awarded America’s top-rated vitamin store six times by Consumer Labs. Vitamin World ranks 3rd in the U.S. specialty health product industry and #1 in the female consumer market compared to the closest competitor, according to the industry’s leading data source, Nutrition Business Journal. Vitamin World currently operate 156 retail locations across the United States, Guam, Puerto Rico, and the U.S. Virgin Islands and also offers over 600 high-quality proprietary products worldwide at vitaminworld.com. Stores are located in major markets such as Woodbury Commons in New York, Citadel Outlets in Los Angeles, Saw Grass Mills in Florida, Seattle and Las Vegas Premium Outlets. Vitamin World also has 14 international locations positioned in popular shopping centers like Micronesia Mall in Guam and Plaza Las Americas in Puerto Rico.
About Feihe International, Inc.
Feihe International, Inc. is China’s largest domestic infant formula company and engages in the production, packaging, and distribution of premium milk powder, soybean milk powder, and related dairy products in the People’s Republic of China. It offers premium milk powder for infants and young children formulated for zero to six months, six months to one year, one to three years, and three to six years of age; and for expectant mothers, students, middle-aged, and elderly populations. Feihe International, Inc. was founded in 1962 and is based in Beijing, the People’s Republic of China. The company was formerly known as American Dairy, Inc. and changed its name to Feihe International, Inc. in 2010. It was previously listed on the New York Stock Exchange NYSEADY and privatized in 2013 along with Morgan Stanley Private Equity Asia. In 2014, the Feihe Nutrition Laboratory was established with Harvard Medical School’s Beth Israel Deaconess Medical Center. For more information please visit feihe.com. |
