News Source: Natural Products Industry Insider
"Herbalife Ltd. (NYSE:HLF) entered into a definitive agreement to buy the Micelle Laboratories contract manufacturing operation in Lake Forest, Calif., to expand Herbalife’s global manufacturing capabilities. Since 1985, Micelle has served as a contract manufacturing partner for Herbalife; Micelle assisted in development and manufacture of two new products recently introduced by the global multi-level marketing firm.Herbalife expects to close on the deal in the next 60 days, adding an FDA-certified operation that is already in compliance with federal dietary supplement GMPs (good manufacturing practices), with the expectation of investing in equipment and other enhancements over the next year to increase the facility’s capability. All Micelle staff—72 full-time and 20 part-time employees—will be offered the opportunity to stay on after the deal closes.
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