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Article: Former vitamin exec sees healthy pickup target: board of Nutraceutical spurns bid by ex-Country Life CEO.(BUYOUT OFFER)(Ryan Drexler)(Nutraceutical International Corp.)
- Article from:
- Los Angeles Business Journal
- Article date:
- August 24, 2009
- Author:
CopyrightCOPYRIGHT 2009 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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AFTER selling his family's vitamin company to Japanese soy sauce giant Kikkoman Corp. two years ago, Ryan Drexler took a break before deciding whether to jump back into the business.
Drexler, a 10-year L.A. resident and investor, is now making a $117 million bid for a large, publicly held Utah nutritional supplement company he contends is poorly ran. Last week, he announced a $10175-per-share offer to shareholders of Park City-based Nutraceutical International Corp., whose brands include Solaray, KAL and Natra-Bio.
"There's a tremendous opportunity in this sector but this is a company that has basically bought sales by buying up other companies and then ...