Can fast-growing Eniva keep positive vibe?

by louabbott on March 22, 2008

Minneapolis MN – Published March 22, 2008

Growth had been huge. From $6.5 million in sales in 2000, revenue hit $60 million in 2006. But in ’07, it was just $67 million

Over the past 10 years, Eniva Corp. has emerged as one of the rising stars of the dietary supplements industry. So when the founders of the fast-growing company went looking for a new headquarters, Anoka stepped up with a tax abatement.

But the company created by Andrew and Benjamin Baechler, identical twins from Winona, appears to have hit a financial soft spot as it prepares to move into its new $14.5 million location early next year.

Sales in 2007 came in well below projections that Eniva presented to Anoka officials in its successful application for a tax break. The company fired some of its top independent salespeople last fall, and attendance at Eniva’s annual sales conference in Las Vegas this year was down by about 50 percent from a year ago.

Mary Veloske, Eniva’s director of sales development, blamed the slowing growth on a weakening economy. And Bob Kirchner, Anoka’s community development director, said the city’s not concerned about its investment. “Our agreement isn’t tied to sales numbers, it’s about job creation,” he said.

Read the entire article here

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