IdeaSphere Closes Purchase of Metabolife Assets 40570

IdeaSphere Closes Purchase of Metabolife Assets

HAUPPAUGE, N.Y.IdeasphereInc. (ISI) closed its deal to purchase certain non-ephedra-related assets ofMetabolife International Inc., which is operating under Chapter 11 bankruptcyprotection, in early November. Financial terms of the deal were not disclosed;but, in September, ISI rescinded its initial offer of $23.5 million, accusingMetabolife of not operating its business as usual, and lowering its valueassessment for the assets to near $14 million. As a part of the newly mintedtransaction, ISI will now own core non-ephedra brandsMetabolife Ultra,Metabolife Complete, Metabolife Ultra Caffeine Free and Metabolife Green TeaFormulaas well as a state-of-the-art powder and tablet manufacturing facilitylocated in Orem, Utah, and a distribution center in Memphis, Tenn. According toISI, the newly-acquired products will continue to be marketed under theMetabolife brand, which will operate as a separate division within ISI.

These Metabolife assets are a great fit with our currentoperations and product lines, said Mark Fox, president of ISI. In additionto expanding our manufacturing, distribution and customer service capacity,Metabolife provides us with a platform to expand distribution on a global scale.

According to Fox, the company will immediately integrate theseassets and facilities into its existing operations. The Orem plant, which willincrease the companys production capacity by billions of dose forms oftablets and powders, is located within minutes of an existing American Fork,Utah, Twinlab plant.