Atrium Innovations acquires Trophic Canada
This article was originally published in The Tan Sheet
Atrium Innovations' $11 million acquisition of the vitamin, mineral and supplement maker and distributor Trophic Canada gives the marketer "a stronger and complementary foothold" in the Canadian market. Trophic's two brands, Trophic and Wild Rose, include 150 products and sell approximately $7.5 million annually, primarily in specialized health food stores, according to Atrium's March 18 release. Atrium entered health food stores last September with the acquisition of Garden of Life (1"The Tan Sheet" Sept. 22, 2009). Before that it acquired enzyme manufacturer Enyzm-Arzeimittel-Berlin (2"The Tan Sheet" May 25, 2009, In Brief)
You may also be interested in...
With its integration of Trophic Canada completed in the second quarter, Atrium Innovations reports 17.3 percent revenue growth to $85.2 million. Atrium bought Trophic for $11 million to bolster its Canadian operations through the Trophic and Wild Rose supplement brands (1"The Tan Sheet" April 12, 2010, In Brief). The 2009 Garden of Life acquisition also boosted sales and Atrium CEO Pierre Fitzgibbon said in an Aug. 12 release the Quebec City firm still is assessing "multiple opportunities for acquisitions." Atrium's net earnings grew 11.4 percent to $12.5 million in the three months ended June 30, and diluted net earnings per share increased to 38 cents from 34 cents
The acquisition of Garden of Life contributes to a 27.6 percent jump in Atrium Innovations' first-quarter revenue to $90.1 million. The Quebec City-based health product company purchased Garden of Life in September 2009 to bolster U.S. distribution, and it seeks a greater share of the Canadian supplement market with its April acquisition of Trophic Canada (1"The Tan Sheet" April 12, 2010, In Brief). Atrium May 11 reported net earnings rose 22.8 percent to $13 million in the January-March period - or 39 cents in diluted net earnings per share, up 21.9 percent. Sales in Germany were lower than expected, due to slow consumer acceptance of the new Wobenzym P anti-inflammatory formula, a brand acquired from German company Mucos Emulsions in 2007. CEO Pierre Fitzgibbon said Atrium is working through the challenges posed by Wobenzym P, which sells through doctors and pharmacists
Atrium Innovations' $35 million acquisition of supplement marketer Garden of Life secures the Canadian firm a strong foothold in the health food store distribution channel and expands its U.S. presence