Iovate Health Sciences International Sells Majority Stake to Xiwang Foodstuffs Co. for $730 Million.
|Areas||Asia Practice, Banking and Finance Law, Competition, Antitrust and Foreign Investment, Corporate and Commercial, Health Care Law, Mergers and Acquisitions, Pensions, Tax|
Goodmans represented Iovate Health Sciences International, Inc. (Iovate) in connection with the completion of a majority equity investment from Shenzhen-listed Xiwang Foodstuffs Co., Ltd. (Xiwang Food). The transaction will accelerate Iovate’s growth in China and provide its brands with significant product expansion globally. Iovate will maintain its North American headquarters in Oakville, Canada. All Executives and Senior Leaders, as well as its 330 existing employees, will remain in place to take the business to the next level of growth. At the close of this transaction, Iovate’s CEO maintained a significant ownership stake in Iovate and remains on as CEO.
Iovate Health Sciences - nutritional company with brand products like MuscleTech®, Six Star Pro Nutrition®, Purely Inspired®, and Hydroxycut™. Iovate is committed to becoming the number one active nutrition and weight management supplement company in the world. Iovate products are available nationwide at GNC, The Vitamin Shoppe, Bodybuilding.com, WalMart, Target, Walgreen’s, Sam’s Club, Amazon.com and other retailers.