Herbalife Increases U.S. Manufacturing Capacity
19 Dezember 2012 - 9:05PM
Business Wire
Herbalife Ltd. (NYSE: HLF), a global nutrition company,
announced today that it entered into a definitive agreement to
purchase a manufacturing facility in Winston Salem, North Carolina.
This purchase further expands Herbalife’s global manufacturing
capacity and is in line with the company’s stated strategy to
increase self-manufacturing for its products.
The agreement is based upon a cash purchase of $22.2 million and
includes incentives from Winston Salem, Forsyth County and the
state of North Carolina. The receipt of these incentives, coupled
with an existing manufacturing facility and the availability of
quality labor force in the Triad region, were key criteria that the
company considered upon selecting this location above other cities
in the southeast.
In addition to the building purchase, Herbalife plans to invest
in excess of $100 million on machinery & technology, as well as
a complete retro-fitting of the existing facility to ensure it is
in full compliance with U.S. Good Manufacturing Practices (cGMPs)
for dietary supplements and food products. The facility will employ
approximately 500 new positions when it reaches full production and
it will manufacture Herbalife’s nutritional powders and liquids for
the North American and other markets around the world.
“This acquisition is part of the ongoing execution of our
previously stated ‘seed to feed’ strategy – vertically integrating
our supply chain to give us even greater control of our products at
every stage of the process and increasing our ability to meet the
increased product needs of our independent distributors and their
customers around the world,” said Rich Goudis, chief operating
officer. “We are thankful to Governor Perdue, who played a key role
in our decision to locate our operations in North Carolina and we
are excited about the opportunities this new facility offers to
both our business and the local economy.”
It is anticipated that the deal will close in late December
2012, subject to the completion of due diligence on the
property.
About Herbalife Ltd.
Herbalife Ltd. (NYSE:HLF) is a global nutrition company that
sells weight-management, nutrition, and personal care products
intended to support a healthy lifestyle. Herbalife products are
sold in more than 80 countries to and through a network of
independent distributors. The company supports the Herbalife Family
Foundation and its Casa Herbalife program to help bring good
nutrition to children. Herbalife's website contains information
about Herbalife, including financial and other information for
investors at http://ir.Herbalife.com. The company encourages
investors to visit its website from time to time, as information is
updated and new information is posted.
Herbalife (NYSE:HLF)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Herbalife (NYSE:HLF)
Historical Stock Chart
Von Jul 2023 bis Jul 2024