Abbott Laboratories has completed the purchase of ZonePerfect Nutrition Company, a Beverly, Mass.-based marketer of healthy and nutritious products for active people. Abbott announced an agreement for the acquisition on July 24.
Abbott acquired all of the equity of ZonePerfect Nutrition, formerly a privately held company, for approximately $160 million in cash. The transaction will not have an impact on Abbott's 2003 earnings per share guidance.
"ZonePerfect Nutrition complements our leadership position in medical nutritionals and supports our nutritionals growth strategy," said Mark F. Gorman, vice president, medical nutritionals, Abbott Laboratories. "With ZonePerfect we have a brand that not only is positioned in the rapidly growing healthy living and weight control categories, but also is the fastest-growing brand in the nutritional bar segment."
ZonePerfect Nutrition markets its products through major food, drug and mass merchandisers across the United States as well as through its direct to consumer program. ZonePerfect Nutrition's product formulations conform to a 40/30/30 carbohydrate, protein and dietary fat ratio.