Nutrition 21, Inc. has sold most of the assets of its direct response and retail businesses to Nature’s Products, Inc. The purchase price was approximately $3.2 million plus the assumption of designated liabilities.
Nutrition 21 retained its ingredients business and its patent portfolio. The buyers agreed to purchase their ingredients requirements from Nutrition 21.
The company applied approximately $2.7 million of the sale proceeds to repay in full notes that it issued in August 2006.
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