NEW YORK, Aug. 20, 2015 /PRNewswire/ -- Twinlab Consolidated Holdings, Inc. (OTCPK: TLCC), ("TLCC" or the "Company") today announced that its wholly-owned subsidiary Twinlab Consolidation Corporation ("TCC") has exercised its option for the right to acquire Boca Raton, Florida-based Organic Holdings LLC, distributor of the premium nutritional supplement brand, Reserveage™ Nutrition.
This transaction will bring together two highly recognized leaders in the dietary supplement industry and their complementary and combined strengths will position each company with new growth opportunities, while strengthening the dietary supplement industry as a whole. Each company has distinct and unique products tailored to meet the needs of today's health-conscious consumer, and well-known brands that are sold at retail, online and through various global distribution channels.
"Bringing our two companies together in partnership will build a strong foundation where creative and collaborative nutritional problem solving will shape the future of our industry standards. This combination will enable us to broaden our global reach, invest in new offerings and better service both our customers and consumers who rely on our products. Furthermore, we believe that by combining resources, we will be in a better position to execute our growth strategy and build scale on a global basis," said Naomi Whittel, Chief Executive Officer of Reserveage Nutrition. "While our Company has enjoyed great success over the past several years, we will greatly benefit from Twinlab's 47-years of industry leadership and experience and world-wide sales platform. We look forward to the opportunities this transaction will bring for our customers, partners and employees, and every member of our team will continue to provide the same high-quality service and standards Reserveage Nutrition has been known for."
Reserveage Nutrition is a leading innovator and market leader in the premium Beauty from Within and Resveratrol supplement categories. Reserveage Nutrition's family of health supplement brands has earned more than 25 awards in recognition of the innovation it has brought to the natural products industry.
TCC's Chief Executive Officer, Tom Tolworthy said, "Over the past five years under the stewardship of its visionary founder and CEO, Naomi Whittel, Reserveage Nutrition has provided best-in-class nutritional supplements backed by gold standard science. The merging of our like-minded companies brings together two organizations that share common core values, similar cultures, and a shared vision about the future of the health and wellness sector." Tolworthy went on to say, "this combination of award winning brands with an integrated supply chain and captive manufacturing capability will generate broader, more innovative, and higher value offerings to customers in the natural products channel."
Tolworthy continued, "The value created by the combination of Reserveage Nutrition and TCC through significant operational synergies and scalable growth will accelerate our joint position as a leader in the health and wellness industry. We believe this transaction to be in the best interests of our shareholders, both near- and long-term, and look forward to reporting on our progress as a combined entity once the deal is finalized."
Darin Pastor, CEO of Capstone Financial Group, was instrumental in assisting TCC in meeting the requirements of its largest acquisition to date, and will continue to support TCC's strategy of focusing on accretive profitable growth. The proposed transaction is subject to due diligence and other factors and several key aspects and contingencies still need to be resolved prior to closing the transaction. Both companies anticipate the deal will close on or before October 2, 2015.
All forward looking statements assume the successful completion of this transaction.
About Twinlab Consolidated Holdings, Inc.
Twinlab Consolidated Holdings, Inc., is the parent holding company of Twinlab Consolidation Corporation, an industry-focused health and wellness company committed to developing top brands. An employee-owned company, TLCC aligns the interest of all stakeholders and has a portfolio of products that are made in America using the finest ingredients from around the world. In addition to its namesake brand, Twinlab®, established in 1968, TLCC, through TCC and its subsidiaries, also manufactures and sells other well-known category leaders including the Metabolife® line of diet and energy products; the Twinlab® Fuel line of sports nutrition products; Alvita® teas, established in 1922 as a single-herb tea line; Trigosamine® joint support products as well other health and wellness brands. TCC also owns NutraScience Labs, which serves as its contract manufacturing division. Twinlab's manufacturing facility located in American Fork, Utah is an NSF GMP and NSF GMP for Sport certified facility. Visit www.twinlab.com for more information.
About Organic Holdings LLC
Founded in 2009, Organic Holdings LLC distributes premium supplements under the Reserveage™ Nutrition and a family of brands. Inspired by the wisdom of nature and the healthiest cultures around the world, the company travels the globe in search of the finest ingredients and employs the highest standards of sourcing and manufacturing to deliver nutritional supplements consumers can trust. The company is devoted to providing high-quality ingredients in essential, science-based products. Offering innovative products that nourish your body and preserve traditional culture is core to the company's mission.
Forward Looking Statements
Statements we make in this press release may include statements which are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are usually identified by the use of words such as "anticipates," "believes," "estimates," "expects," "intends," "may," "plans," "projects," "seeks," "should," "will," and variations of such words or similar expressions. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Securities Exchange Act and are making this statement for purposes of complying with those safe harbor provisions. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control including, without limitation, those risks set forth in the "Item 1A. Risk Factors" section of the Annual Report on Form 10-K filed by TLCC with the Securities and Exchange Commission on March 31, 2015 as updated by TLCC's other SEC filings. We assume no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Twinlab Consolidated Holdings, Inc.