Health store sold
Nature’s Discount, the Barbadian health supplement retailer, has been taken over by an American company.
Nutraceutical International Corporation, a Utah, United States-based company, bought out the operations that included six stores in Barbados, as well as the distribution company Top Health and Nature’s Discount in St Lucia.
Nick Kelly, who owned the health supplement company, yesterday confirmed to the DAILY NATION the sale but refused to disclose the financial terms of the deal.
He noted, however, that it would be business as usual for the workers with only two of the 35 employees losing their jobs.
The businessman said he had also received offers from two Trinidadian companies but decided to go with the American NASDAQ-listed company.
“They approached me some time ago because they wanted to increase their distribution of products in the Caribbean. And it has always been my dream to see a Nature’s Discount in every country in the region. Nutraceutical has the money and I could not do it on my own,” Kelly added.
Full story in today’s DAILY NATION