SOURCE: Nutroganics, Inc.

Nutroganics, Inc.

March 31, 2014 09:00 ET

Nutroganics (NUTT) Provides Update on M&A Activity

BETHESDA, MD--(Marketwired - Mar 31, 2014) -  Nutroganics, Inc. (PINKSHEETS: NUTT) ("Nutroganics") announced today an update on the status its acquisition activities. NUTT continues to pursue a closing with NuStar Manufacturing, LLC, a state of the art, specialty, nutritional manufacturing facility in Orem, UT. NuStar specializes in manufacturing liquid, gel, and powder nutritional supplements in single and multiple dose flexible packets, pouches, and containers. NuStar's capabilities include formulating, sourcing, blending, mixing, batching, filling, and packing nutritional products for customers. NuStar generated approximately $3 million in revenue in 2013. The completion of the transaction is subject to satisfactory completion of work by Nutroganics's lenders to be completed in the next 5-10 days. 

Nutroganics is not currently pursuing an acquisition of GardenChef Paul Company, a company with which Nutroganics signed a letter of intent in late 2013; although Nutroganics does remain a reseller of GardenChef Paul products. 

Nutroganics is also looking at several other acquisition opportunities.

David Sackler, Nutroganics' President & CEO, said, "We believe that we are in the home stretch of our transaction with NuStar and look very forward to the lenders completing their work and closing the transaction. The acquisition of NuStar's business will provide Nutroganics with the resources to take advantage of co-packing opportunities with our brand partners, as well as capitalize on our many years of relationships to expand upon an already impressive roster of customers."

About Nutroganics:

Nutroganics, Inc. seeks to acquire and grow revenue-generating businesses operating in the healthy lifestyle marketplace, and seeks to capitalize on synergies from manufacturing through distribution. In May 2013, Nutroganics acquired Silverbow Honey Company, a producer and packager of honey products founded in 1945 and based in Moses Lake, Washington.

For more information, contact David Sackler at dsackler@nutroganics.com or at (516)-513-5113.

Forward-Looking Statements:

This release may contain forward-looking statements, which involve known and unknown risks, uncertainties, and other factors, which may cause Nutroganics' actual results, performance, or achievements to be materially different from actual future results expressed or implied by the forward-looking statements. We undertake no obligation to update any forward-looking statements after the date of such statements.

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