Natural Health Trends Corp. Divests Kaire Subsidiaries

by louabbott on July 11, 2006

DALLAS–(BUSINESS WIRE) – Published July 11, 2006

Natural Health Trends Corp. (NASDAQ: BHIP – News) today announced that it has sold its interest in its Kaire subsidiaries to Kaire International (Canada), Ltd., effective July 1, 2006. Specifically, the Company sold its 100% interest in eKaire.com, Inc., a Delaware corporation, as well as its 51% interest in each of Kaire Nutraceuticals Australia Pty. Limited, an Australian company, and Kaire Nutraceuticals New Zealand Pty. Limited, a New Zealand company. The purchase price was approximately the book value of the Kaire subsidiaries. The purchaser is a company formed and owned by Michael Lightfoot, who managed the business of eKaire.com, Inc. prior to this transaction.

Chris T. Sharng, Executive Vice President and Chief Financial Officer of the Company, said, “We have regrettably been unable to focus any significant time or resources on the Kaire business, which has a very different commission system and product portfolio from our core NHT Global business. While we have always believed that the Kaire business has great potential, the Company’s priority will continue to be the multinational markets of the NHT Global brand for some time to come. We think both the NHT Global and the Kaire businesses will be better served with a clear delineation of equity interest, and the Kaire business after this transaction will be placed in the capable, experienced hand of the current Kaire management.”

Read the entire article at Business Wire

Also, read our company overview:  NHT Global Facts, News and Review

Be Sociable, Share!

{ 0 comments… add one now }

Leave a Comment

Thoughtful and constructive comments that benefit network marketing professionals and the industry will be accepted and published after review.
We will not publish rude or insulting comments, plugs for your company or product, or generally non-helpful or self-promoting content.


Previous post:

Next post: