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Global Health Sciences, Inc. was a vertically integrated developer and custom manufacturer of dietary and nutritional supplements which supplied Herbalife with the large majority of its products.
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In the year prior to the sale, revenue and EBITDA were approximately $250 million and $45 million, respectively; however, the potential loss of Herbalife and over-capacity resulting from an industry downturn was causing capacity concerns and margin pressure. It was necessary to identify strategic buyers that would not be discouraged by the current industry conditions.
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American Ingredients was earlier acquired by Global Health to assist in its sourcing of specialty raw materials for its unique products.
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The sale of American Ingredients to PharmChem was completed as an assignment for the benefit of creditors to expedite a closing and preserve value.