Metagenics gets Amway parent's support
This article was originally published in The Tan Sheet
Metagenics, a manufacturer of medical foods and nutraceuticals marketed to health care professionals, attracts financial support from Amway parent Alticor. The firms did not disclose details of the deal in their Aug. 11 release, but said Metagenics, which had sales of more than $200 million in 2008, will continue to operate as a stand-alone company. Metagenics gains "access to financial resources to support our internal growth and our acquisition strategy," CEO Jeffrey J. Katke said in an Aug. 13 e-mail. The San Clemente, Calif.-based firm owns proprietary formulas for use in nutraceuticals, medical foods and drugs. Amway's Nutrilite supplement and food line accounted for $3 billion of Ada, Mich.-based Alticor's worldwide sales of more than $8.2 billion in its fiscal year 2008
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