Swiss Research brings retail opps to Health Sciences
acquired Los Angeles based Swiss Research, in an effort to expand
its retail channels.
"The acquisition of Swiss Research represents the next logical step for us as we move toward expanding direct-to-consumer distribution channels for our products," said Fred Tannous, co-chairman and CEO of Health Sciences Group.
He added that: "In addition to offering progressive packaging concepts and an impressive brand identity, Swiss Research gives us immediate access to over 3,000 national retail locations through stores like Eckerd Drug and Price Choppers."
Swiss Research markets and sells branded nutraceutical products, which address a variety of major health needs such as weight management, arthritis support and cholesterol reduction. The company develops and markets its own line of products, including the weight-loss product Swiss Diet, and Shugr, a natural zero-calorie sweetener that the company claims looks, tastes and cooks like sugar.
Health Sciences Group reaped mixed rewards last year with significant increases in revenue, despite a further slide in net profit. Its acquisition of Quality Botanical Ingredients (QBI) - a manufacturer and contract processor of bulk botanical materials and nutritional ingredients - in 2002 contributed to 70 percent of the company's sales.
Revenues for the year increased 221 percent to $17.8 million from $5.5 million the previous year, but net loss was up to $7.4 million compared to $4.3 million in fiscal 2002.
"To date, we have built a solid platform comprised of longstanding customer relationships, which we expect to leverage to become a recognized leader in providing scientifically-supported products and ingredients that promote positive health benefits," said Tannous in April, adding that in 2004 the company hoped to introduce a wholesale branding strategy for some of its key products.
Loren Miles, president and CEO of Swiss Research, said this week, that his company will play a key role in helping Health Sciences to better market its products and to create a strong brand identity.
"As Health Sciences Group starts shifting its focus toward the end user, it becomes increasingly important to differentiate itself and its products with proper branding and market positioning," said Miles. "I believe Swiss Research will provide the company with a solid platform for targeting consumers."
