The rumors floating around the past few weeks were true: MuscleTech parent company Iovate Health Sciences has been sold to Xiwang Food, a Chinese foodstuffs company.
This is not a full sale of the company, but an agreement was made for the Chinese firm to take a majority stake “investment”.
Key bullet points in the Iovate sale
- North American headquarters will remain in Oakville, Canada.
- All executives, senior leaders, and 330 existing employees are to remain in place
- Iovate’s CEO will maintain a significant ownership stake in Iovate, and will remain CEO
Supplements are Coming to China
In short, this looks like a major play to bring supplements to China, and it’s going to be done using the Iovate family of expertise.
Regulatory agencies of both China and Canada must approve of the transaction, which is expected to close later in 2016.
Will anything change with MuscleTech in the Americas?
It’s unclear how anything in North America or any other English-speaking companies will change, however. This is new territory for the business and industry at large.
Of the brands affected, you can compare prices on PricePlow to save: