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Nov. 17, 2015, 8:34 AM
- Struggling sports nutrition firm MusclePharm (OTCQB:MSLP) has retained investment banker Canaccord Genuity to explore the sale of its BioZone Laboratories unit, acquired in January 2014. BioZone is a developer and manufacturer of over-the-counter drugs and preparations, cosmetics and nutritional supplements.
- Executive Chairman Ryan Drexler says, "We remain committed to acting in the best interests of our shareholders and further maximizing shareholder value. At the end of the day, we are a sales and marketing company and that is where we want to focus. As as result, we are going to concentrate on our core competencies while leaving other aspects of the business to strategic partners or outside parties who can bring more expertise to those areas than us."
Mar. 4, 2015, 8:54 AM
- Sports nutrition products maker MusclePharm (OTCQB:MSLP) enters into a manufacturing agreement with fellow nutritional products developer and manufacturer Capstone Nutrition whereby MusclePharm will consolidate all of its U.S.-based powder, capsule and tablet manufacturing into Capstone facilities.
- Under the terms of the agreement, MusclePharm will receive warrants equal to 19.9% of Capstone and the right to purchase the remaining 80.1% for a period of 18 months. In addition, it will contribute $2.5M to build out Capstone's manufacturing facilities to accommodate MusclePharm's requirements.
- If the companies merge, the consolidated business will generate revenues of $450M and double-digit EBITDA this year.
- MusclePharm also plans to launch a contract manufacturing sales and business development team to complement Capstone's group.
Headquartered in Denver, Colorado, MusclePharm is a rapidly expanding healthy life-style company that develops and manufactures a full line of NSF and scientifically approved nutritional supplements that are 100% free of any banned substances. Based on years of research, MusclePharm products are... More
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