Nutraceutical to Acquire Pilgrims Natureway

Nutraceutical to Acquire Pilgrims Natureway

PARK CITY, UtahNutraceuticalInternational Corp. (NYSE:NUTR) entered into an agreement to acquiresubstantially all of the operating assets of Pilgrims Natureway LLC throughits subsidiary Fresh Vitamins Inc. If certain contingencies were met, closingwas anticipated to occur on or before Nov. 30.

Pilgrims Natureway, based in Seattle, generates annualrevenue of approximately $4 million through 10 smaller-footprint health foodstores that primarily sell branded nutritional supplements. The stores operateunder the trade names Pilgrims Nutrition Centers, Natureway NutritionCenters, and Vitality Health Nutrition.

Bill Gay, chairman and chief executive officer, said, Pilgrimshas been a loyal customer for many years and has offered nutritional supplementsand health foods to Seattle-area customers for over 25 years.We are grateful forthe opportunity to provide financial support to this chain of health food storesand its employees and customers. We believe this acquisition will help furtherimprove our understanding of our core customers and the products we offer them.