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Matrixx acquisition

This article was originally published in The Tan Sheet

Executive Summary

Matrixx Initiatives has expanded into swab technology by acquiring Viridian Packaging Solutions, a manufacturer of dry handle swab products, the firm announces Nov. 2. Assets include Viridian's design patent, equipment, machinery and tooling for the purchase price of approximately $750,000 in cash, $208,000 in prepayments, and a contingent payment of up to $200,000 to be paid in two years. Matrixx hopes the acquisition "will promote continued improvement in the design of the Company's dry handle swab products," and "facilitate partnering with contract manufacturers to reduce the cost of the swab product and increase swab manufacturing capacity." The firm expects to launch the "improved swab" in the third-quarter of 2006...





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