Supplier News Breaks Archives
Cardium Therapeutics to buy To Go Brands
October 1st, 2012
SAN DIEGO – Cardium Therapeutics' MedPodium unit has agreed to acquire To Go Brands, a maker of nutraceutical powder mixes, supplements and chews to support healthy lifestyles.
Cardium said Monday that the acquisition, terms of which weren't disclosed, is designed to support the expansion of its health sciences nutraceutical brand platform.
To Go Brands develops, markets and sells over 25 products, including antioxidant-rich drink mixes in convenient stick packs that pour directly into a water bottle, as well as mix packages for home use and capsule-based dietary supplements. The Healthy To Go product line includes Go Greens Super Fruits and Veggies, Acai Natural Energy Boost, Green Tea Energy Fusion, Trim Energy, Healthy Belly probiotic and Smoothie Complete, as well as Acai and High Octane energy chews, VitaRocks (nutrients for children) and dietary supplements such as Glucoberry and Trim Green Coffee Bean, designed to support healthy weight loss.
The To Go Brands products are sold through food, drug and mass retailers including Whole Foods, CVS/pharmacy, Kroger, GNC, Jewel-Osco, Ralph's Supermarkets, Meijer and Vitamin Shoppe. Overall, To Go Brands recorded revenue of about $1.7 million for the first six months of 2012, according to Cardium.
"Our acquisition of To Go Brands is focused on building Cardium's MedPodium in-house brand platform and health sciences business. To Go Brands has an established brand, a portfolio of marketed products, established logistics and distribution capabilities, a website e-commerce platform, and an experienced management team with key contacts and a track record of developing and placing new and innovative health and nutraceutical products into the mass, food and drug retail channels," stated Christopher Reinhard, chief executive officer of Cardium.
Plans call for To Go Brands to coordinate Cardium's health sciences brand platform, including the MedPodium Nutra-Apps product line, and its strategic investment in SourceOne Global Partners, a leading supplier of science-based ingredients and proprietary formulas to the national supplement and functional food and beverage industries.
"According to a new industry report, U.S. supplement sales are estimated to total $11.5 billion in 2012 and are projected to reach $15.5 billion by 2017," Reinhard added. "The success of products like Five Hour Energy have shown that the nutraceutical space has the potential to generate billion-dollar products without the extensive regulatory and other hurdles biologics and pharmaceuticals face."