Supplement manufacturer/distributor cashes out Chatsworth property
Nutritional product manufacturer Natrol Inc., Thursday announced the closing of a sale/leaseback of its current Chatsworth headquarters and shipping facilities that will put $12 million cash in the company coffers.
Wayne Bos, president and chief executive officer, said the generated capital would go toward 'strategic investments' to drive growth and profits.
The sale price of the two locations was $26 million, with $14 million going to pay off current mortgage debt, taxes and expenses from the transaction. The cash influx represents 30 percent of the firm's current market capitalization.
The firm will continue to occupy the two facilities under the terms of the five-year lease agreement, with two additional five-year renewal options.
In addition to manufacturing its line of nutritional supplements, the firm distributes its products to more than 54,000 U.S. retailers and to retailers in more than 40 countries worldwide.
Supplement manufacturer/distributor cashes out Chatsworth property
