Reuters: Chinese firm only bidder for Vitamin World
A Chinese company is set to acquire Vitamin World Corp.
Feihe International Inc. will purchase Vitamin World, which is based in Holbrook, New York, out of bankruptcy for $28 million, according to Reuters. There were reportedly no other bidders.
The company plans to operate Vitamin World’s remaining 156 stores, the report said. Vitamin World filed for bankruptcy in September, listing debt and other obligations of more than $43.6 million and estimated its assets at $50 million to $100 million. It went on to shutter over 100 stores, leaving it with approximately 150 locations.
Feihe is the largest domestic-brand baby formula supplier in China.
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Feihe International Inc. will purchase Vitamin World, which is based in Holbrook, New York, out of bankruptcy for $28 million, according to Reuters. There were reportedly no other bidders.
The company plans to operate Vitamin World’s remaining 156 stores, the report said. Vitamin World filed for bankruptcy in September, listing debt and other obligations of more than $43.6 million and estimated its assets at $50 million to $100 million. It went on to shutter over 100 stores, leaving it with approximately 150 locations.
Feihe is the largest domestic-brand baby formula supplier in China.
Click here for more.