:. Food Industry News

Categories: Mergers and Acquisitions

NutriPure Beverages, Inc. Acquires XND Technologies, Inc. as Wholly-Owned Subsidiary

Source: NutriPure Beverages, Inc.
11/08/2008

Newport Beach, Calif., Aug 8 - NutriPure Beverages, Inc. announced today that it has completed its acquisition of XND Technologies, Inc., an Arizona corporation, and that XND Technologies is now a 100% wholly-owned subsidiary of NutriPure Beverages, Inc. Mr. Steve Nickolas, Founder and CEO of XND Technologies, will remain on board as CEO of the subsidiary. The two companies original agreed to merge in December of 2007, then announced shortly thereafter that their merger plans had been reversed and their relationship was being restructured. This announcement marks the completion of that restructuring. In the meantime, NutriPure and XND have continued to work together to bring to market the Nu2O product line of premium enhanced water products, which are currently scheduled for release in October. This acquisition has been structured in the form of a stock-for-stock transaction in which current NutriPure shareholders and management remain in control of the company and XND shareholders are assured a sizeable ownership position regardless of whether XND remains a subsidiary or is eventually spun off as a separate entity.

Daily News Alerts

In response to this announcement, Kenyatto Jones, Chairman and CEO of NutriPure, stated, “We are pleased to announce the acquisition of XND Technologies, Inc. and the retention of Mr. Nickolas as its CEO. This acquisition gives us immediate entry into the highly lucrative premium enhanced water industry with a product line that is both unique and timely and a company that is managed by one of the nation’s top water technology and marketing experts. The structuring of NutriPure as the parent company and XND as the operating subsidiary makes it easier for NutriPure to seek additional complementary opportunities in the ‘healthy food / healthy water’ industries and gives us the flexibility we need to continue to make decisions that we feel will maximize the benefits to our stockholders.” Mr. Nickolas added, “XND shareholders and management are very excited about this acquisition, which was unanimously supported at a recent stockholders meeting. We believe that NutriPure’s support will allow us to bring our products to market and attain a much larger market share in a shorter period of time.”



GO   View more articles on this subject

Email This Article To A Colleague     Print A Copy Of This Page
 
 
 
 
FLEXNEWS - Business News for the Food Industry

About Us | Contact Us | Terms & Conditions | Privacy Policy
 
Daily News Alerts
Related Items
International Bottled Water Association Testifies at...
NutriPure Beverages, Inc. Expands Business Model In...
US: MOM's - My Organic Market Bans the Sale of Imported...
Attorney General Brown Warns Nestle of Legal Challenge...
USA: Mayors Agree to Phase Out Bottled Water for Municipal...
Skinny Nutritional Corp. Announces Agreement with Anheuser-Busch...
Dasani, Aquafina and Nestle Water Brands Strengthen...
Nestle Waters North America Proposes Smaller Bottling...
Soma Beverage Recalls Metromint Flavor Water
The US Bottled Water Industry – An Overview

More in Food Industry News
Wal-Mart's Scott Retiring as CEO, Duke to Succeed
Nestle Says Gaining Share in UK Sweets Market
Istrabenz May Sell 95% Stake in Leading Slovenian Food...
Organic To Go Teams with Jamba, Inc.
Heinz Reports 5.8% Organic Sales Growth, and a 22.5%...
The J. M. Smucker Company Announces Second Quarter...
Mexico Dairy and Products Annual Report 2008
Russia: Synergy Continues to Realize its Export Development...
France: Unilever's Amora-Maille to Concentrate Industrial...
Japan Retail Food Sector Annual Report 2008

Top Headlines
Wal-Mart's Scott Retiring as CEO, Duke to Succeed
Nestle Says Gaining Share in UK Sweets Market
Istrabenz May Sell 95% Stake in Leading Slovenian Food...
Organic To Go Teams with Jamba, Inc.
Heinz Reports 5.8% Organic Sales Growth, and a 22.5%...
The J. M. Smucker Company Announces Second Quarter...
Mexico Dairy and Products Annual Report 2008
Russia: Synergy Continues to Realize its Export Development...
France: Unilever's Amora-Maille to Concentrate Industrial...
Japan Retail Food Sector Annual Report 2008
Codex Agrees Risk Analysis Principles for Nutrients
Over 1,000 Melamine Babies Still in China Hospitals...
Lotte Says no Plan to Buy InBev's South Korea Unit
India Cuts 2008/09 Coffee Output Estimate by 5.6 pct
Fonterra Revises Payout Forecast for 2008/09 Season
PepsiCo to Invest $3 Bln in Mexico
Australian Beverages Seen Quenching Brewers' M&A...
Sugar Weakens on Bleak Global Economic Outlook
Flavors Business and the Developing World to Fuel IFF's...
Ebro to Sell Sugar Unit to British Sugar
China Lays Out Plan for Dairy Industry Reforms by End...
Healthy Coffee Accelerates International Expansion...
Bonduelle Completes Purchase of Belgian Canned Vegetable...
Beverages Comprising a Rice Extract, Derivatives Thereof,...
Infant Nutrition With Protease Inhibitor
Process for the Separation and Sensory Evaluation of...


 


FLEXNEWS 2008 - All rights reserved
ISSN 1950-6228