Weider sells Haleko to Croatian group

- Last updated on GMT

Related tags: Marketing, Europe

US-based Weider Nutrition has sold Haleko, Europe's biggest sports
nutrition business, to Croatian holding company Atlantic Grupa for
around $15 million (€12.3m), the firm said on Friday, reports
Dominique Patton.

Weider has recently stated that it wants to focus on growing its Schiff brand joint supplements business, largely sold in the US, and has moved to divest some of its other activities including a weight loss portfolio and the Germany-based Venice Beach apparel brand in 2003.

In addition, Haleko​, acquired by Weider in 1999 and also based in Germany, has seen declining sales over recent months, reporting a loss from operations of $941,000 for the first nine months to February 2005.

Atlantic Grupa​, set up in 2002, will seek to turn around profitability at the company. It already owns the Cedevita​ supplements business, including a range of vitamin drinks, functional teas, vitamin chews and supplements sold by its distribution unit Atlantic Trade, which also sells international brands like Wrigley, Duracell and Nestle Purina Petcare.

The products are marketed in central, eastern and western Europe.

Haleko's core brands - Multipower and Multaben - lead the sports nutrition markets in a number of European countries. It also makes products for private label customers.

Atlantic Grupa, which also owns a personal care business - Neva - reported a 17 per cent growth in sales during 2004, over the previous year's same period, with revenue reaching around €115 million.

Branislav Bibic, secretary general of the holding company, told NutraIngredients.com that there would be significant synergies for the firms in distribution terms. Atlantic will benefit from Haleko's distribution channels in western Europe.

The deal will lead to losses of around $9.6 million for Weider​ in the fourth quarter.

Its third quarter income has already been more than halved - down to $1.2 million, compared to $2.6 million a year earlier - as a result of underperforming "domestic private label sales, as well as weakness in our Haleko business unit's Multipower and Multaben brands,"​ according to Bruce Wood, president and CEO.

Related news

Related products

show more

Fermented Soy for Natural Digestive Support

Fermented Soy for Natural Digestive Support

Lallemand Bio-Ingredients | 22-Apr-2019 | Technical / White Paper

Lallemand is running a new clinical trial for Gastro-AD® in spring 2019. Gastro-AD® is a clinically studied food supplement based on non-GMO soy fermented...

MenaQ7® Partners Benefit From K2 Outreach

MenaQ7® Partners Benefit From K2 Outreach

NattoPharma USA, Inc. | 22-Apr-2019 | Case Study

MenaQ7® K2 as MK-7 provides health benefits for all ages. That is a fact clinically proven by NattoPharma and communicated to practitioners and consumers...

Breakthrough in Women's Health

Breakthrough in Women's Health

Biosearch Life | 08-Apr-2019 | Clinical Study

A new study performed on women with polycystic ovary syndrome (PCOS) and fertility problems has been published in Gynecological Endocrinology. Results...

Discover the Significance of sIgA for Immunity

Discover the Significance of sIgA for Immunity

LEHVOSS Nutrition– Gee Lawson | 28-Mar-2019 | Technical / White Paper

Embria Health Science’s dietary supplement ingredient EpiCor® fermentate has been shown in multiple published human clinical trials to help strengthen...

Related suppliers

Follow us

Featured Events

View more


View more