Matrixx agrees to H.I.G. Capital acquisition
SCOTTSDALE, Ariz. — Matrixx Initiatives on Tuesday announced that it has entered into a definitive merger agreement to be acquired by affiliates of private equity firm H.I.G. Capital.
The board of directors of Matrixx unanimously has approved the merger agreement. Under the terms of the merger agreement, affiliates of H.I.G. will commence a tender offer to purchase all of the outstanding shares for approximately $75.2 million.
The tender offer is expected to commence Dec. 22, and to expire on the 20th business day following and including the commencement date. If the tender offer is completed successfully, the parties will complete a second-step merger in which any remaining shares of Matrixx would be converted into the right to receive the same price per share paid in the tender offer.
Matrixx’s shares climbed more than 55%, closing Dec. 14 trading at $7.98 per share.
FTC fines NBTY regarding children’s vitamins claims
WASHINGTON — As part of its ongoing efforts to stop “bogus” health claims, the Federal Trade Commission on Monday reached a settlement requiring NBTY to stop making false and unproven claims that their supplements promote healthy brain and eye development in children, the agency announced.
NBTY has agreed to pay $2.1 million to provide refunds to consumers who purchased certain multivitamins in its Disney and Marvel Heroes line.
The FTC charged NBTY with making deceptive claims about the amount of DHA — an omega-3 fatty acid — used in its line of Disney- and Marvel Heroes-licensed children’s multivitamin gummies and tablets. NBTY also made unsupported claims that a daily serving of the products promotes healthy brain and eye development in children, according to the FTC administrative complaint.
Product packaging and print ads promoting the vitamins had bold graphics highlighting that the products contained DHA, but in reality, the products allegedly had only a trace amount of DHA. While the vitamins’ packaging touted the purported health benefits of 100 mg of DHA, a daily serving of the Disney and Marvel multivitamins for children ages 4 years and older contained only one thousandth of that amount (0.1 mg or 100 mcg), according to the FTC’s complaint.
The FTC alleged that the packaging and ads for the Disney and Marvel multivitamins misrepresented that they contained a significant amount of DHA, and that NBTY and its subsidiaries, NatureSmart and Rexall Sundown, made unsubstantiated claims that the amount of DHA provided by the multivitamins promotes healthy brain and eye development in children.
The settlement bars NBTY from misrepresenting the amount of any ingredient contained in any product. NBTY also must be able to quantify claims that any ingredient, including DHA, promotes brain or eye health or provides any other health benefit, by “competent and reliable scientific evidence,” the FTC added.
New Sanosil Halo Fogger disinfects rooms with ease
PHILADELPHIA — Bresslergroup on Tuesday introduced a device that disinfects an entire room without labor or hazardous chemicals. Bresslergroup designed the new product for Sanosil International.
The Sanosil Halo Fogger transforms Sanosil nontoxic disinfectant into a fine mist of ionized particles and distributes it throughout a room, disinfecting every exposed surface, including the surfaces that regular cleaning can’t reach. The Halo Fogger assures a homogenous distribution of disinfectant on all surfaces, including high-touch areas, around doors, behind window treatments and even under desks, and is safe for use around all electronic equipment.
The portable, rolling device is similar in size to a carry-on suitcase. The Sanosil Halo Fogger disinfects areas at a cost of $1.50 per 1,000 sq. ft., Bresslergroup estimated.
Independent tests confirmed a 99.99% killing efficacy against such germs as Rhinovirus Type 37 (common cold), MRSA , H1N1, SARS, HIV-1, E. coli and salmonella, the company stated.