Subscribe for the latest consumer trends, trade news, nutrition science and regulatory updates in the supplement industry!
Join 37,000+ members. Yes, it's completely free.
Carrington Acquires PC Business
February 3, 2003
1 Min Read
Carrington Acquires PC Business
IRVING, Texas--On Dec. 17, Carrington Laboratories (NASDAQ:CARN)completed the acquisition of the custom division of Creative Beauty InnovationsInc. (CBI) of Carrollton, Texas. Carrington paid $1 million up front for CBI'sdivision, an amount that included CBI's specialized manufacturing customer base,intellectual property and a limited amount of equipment. The division customdesigns and manufactures bath, body, skin and hair care products for privatelabeling.
Additionally, Carrington will pay CBI a percentage of net sales from customdivision products from CBI's existing customers for the next five years and upto an additional $700,000 for useable inventory.
"We expect to complete transition of up to 35 former CBI accounts and 20to 30 former employees during January," said Carlton Turner, Carringtonpresident and chief executive officer. The acquisition is expected to increaserevenues by up to $7 million annually.
You May Also Like