Gaspari Nutrition Sold! Updated December 2014

Update – May 7, 2015: Since the sale discussed below, Gaspari is back to launching products! The first of which is the Nova-X Testosterone Booster, an aggressive testosterone booster that’s different than any other such product we’ve seen.

Gaspari Nutrition has been sold

SOLD! Bankruptcy filing is below

Updated Dec 3, 2014

Gaspari Nutrition has been put to auction and SOLD!

Since there was more than one offer for Gaspari back when we originally posted this in October, it was put to auction on Monday, Dec 1.

We have not seen the official information just yet, but the records have been made available to the public. Our social media followers can see what was told to us below:

See the public bankruptcy sale information here:

Disclaimer: We make no guarantee that the information below is absolutely correct. It comes from a trustworthy source with access to public records, but again, we have not seen it with our own eyes.

Our social media followers can see it below:

What does the above information mean?

There are three bidders listed. The first one (with the highest price) won the auction.

But if that sale were to fall through for any number of reasons, it would go to the secondary bidder at their back-up bid. And once again, if that were to fall through, it’d go to the third bidder, with their secondary back-up bid.

What does the buyer get?

The buyer gets all of Gaspari’s assets… and the money spent will then go to pay off all of their liabilities.

The first liabilities to be paid off will be the oldest secured debt (debt that was secured by collateral). It is our belief that all secured debt is to be paid before any unsecured debt, regardless of age. This could be wrong — we’re not debt/bankruptcy experts.

Someone’s not going to get paid

Since the sale is less than the overall amount of debts, there are creditors who will not get paid in this sale. They will have to write those losses off. We’re not sure who they are (someone can look at the document below and probably figure it out), but it is the unfortunate case.

Other legal preceedings may hold this up?

It has also been rumored that there is a stay pending on the entire sale, due to pre-existing litigation with another company that is not yet resolved. We are unsure of the validity of this rumor, or what that means with regards to the sale above.

We will update this post and release more information when it can be confirmed.

What happens to Rich now?

After the sale goes through, it will 100% belong to the highest bidder. They own it all, and Rich owns none at that point.

What they do from there is their own business – perhaps they have an agreement to sell Rich a percentage back, perhaps they will hire him, perhaps nothing. Nobody but them knows.

We’ll keep this updated when things are announced more publicly.




Original (older) Post from October is below

October Update: The chapter 11 bankruptcy filing is now public record, and is shared below. Commentary to come!

A couple of months ago, we reported that Gaspari Nutrition was for sale.

It looks like they have just been sold — or at least have received a massive amount of investment.[1] The investor is Allegro Nutrition LLC, which is part of Allegro Ltd., a major global marketing and sales distribution company based out of Ireland.[2]

The investment amount has not been disclosed, but…

Chapter 11 Bankruptcy to be filed

The most interesting part? Gaspari is to file Chapter 11 bankruptcy as part of the deal.

The filing is now public record, and you can like or follow us to see it:

The press release elaborates:

In conjunction with the sale, Gaspari Nutrition will file for Chapter 11 Bankruptcy protection. In Chapter 11, Gaspari Nutrition will be able to restructure its obligations while continuing to operate and meet the needs of its customers, vendors and employees.

“After careful consideration of our options, we believe that Chapter 11 is a necessary step to create a solid foundation for future growth and success of Gaspari Nutrition, Inc.,” stated Rich Gaspari.[1]

Main bullet points from the bankruptcy filing

  • Total Assets: $8.86 Million (all figures USD)
  • Total Liabilities: $16.34 Million
  • They are trying to ram this through fast. It is guessed that this is likely because of other pending lawsuits.
  • They basically have about $75k cash on hand.
  • There are currently $2.73 Million in accounts receivables.
  • They have an $84k deposit on gym equipment. Wonder who gets that!
  • They are holding $5.4 Million in inventory, likely due to a strong drop in sales volume (see next point).
  • Some Annual Sales Figures:
    Rich Gaspari is selling his company (or part of it)

    Rich has stated that he will remian in charge of the company.

    • 2012: $60.7 Million
    • 2013: $53.5 Million
    • 2014 YTD: $28.5 Million (Seeing that we’re about 3/4 through the year, this would project to be roughly $38 Million.
  • There is $15.4k owed to their sponsored athletes under contract. Not bad there.
  • They owe a lot of money to a lot of people, including banks, raw materials suppliers, Arnold (as in “Arnold Amateur”), Mr. Olympia,, state governments, legal firms, ex-employees due to litigation settlements, and more.

    Someone is not going to get paid as much as they’d hope, that’s for sure.

  • Rich owns 100% of the company. Or, owned. We’re not sure how much he’ll own, if any, after this.
  • Rich’s ex-wife, Liz Gaspari, purchased $847k worth of “slow moving, discontinued inventory for $460k.

    Talk about picking at the pieces like a vulture. There’s likely some spicy drama behind this one.

  • Their litigation summary is a can’t miss page.

To put it simply, Gaspari put themselves in a situation where they needed to sustain growth to meet all of their financial and legal obligations. One bad year and they were in trouble — and the end of 2013 into 2014 was that year.

Will Rich remain involved?

Update: Marc Lobliner and Rich Gaspari have published a video, which is shared below.

Rich Gaspari Speaks, but doesn’t say much

Bullet points from the video:

  • Rich has stated that he is still in charge of the company, and is still active.
  • New products are coming out, and fixing the stock issues.
  • Marc Lobliner is optimistic.

There really isn’t much other information to be learned from the video, unfortunately. The bankruptcy documents say a whole lot more.

Since he’s being quoted as part of the team in the press release, it seems that Rich Gaspari will remain active with the company.

However, due to the previous restructuring and a major amount of layoffs, Gaspari Nutrition is currently a shell of its former self. It will be interesting to see how or if they bounce back, if new products are ever going to come, and what role Rich will play.

Our take?

The plus side is that this industry is constantly growing, and “a rising tide lifts all ships”. With the Gaspari brand name recognition, there will always be money to be made for Gaspari. We feel that the company will be used to offer a standard set of products, and Allegro will use this as a cash cow in their existing distribution chain.

From a consumer’s standpoint, the company will likely go the way of EAS after Abbott International acquired them – you’ll see the products around, but there will be minimal marketing in your face. The products will likely be stocked wherever Allegro already goes, driving their bottom line and bringing profitable revenue to the company.

Some crazy Gaspari deals in the process

What’s cool is that since the news broke about Gaspari’s sale, there have been some incredible price drops on their previous generation of products. You can see some of them below, and sign up for deal alerts on their goods below:

Gaspari Nutrition - Best Deals and Price Drop Notifications

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The cycle repeats

If the above strategy is used, we just don’t see Gaspari rising to the top, given the new wave of companies like MusclePharm and Cellucor who are growing leaps and bounds and can “do no wrong” right now in the eyes of their consumers.

This cycle seems to occur every five years in the industry: A few new companies gain explosive growth, get bought up, and slowly fade into the background as they’re used for profits. Rinse and repeat.

But hey, maybe we’re wrong – wouldn’t be the first time. Leave comments with what you think.

The Irish have come!

It’s interesting to see that the Irish own yet another major supplement company. Ireland is also home to Glanbia, who owns Optimum Nutrition, ABB, and BSN.

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Posted in , by Mike | Tagged , .
  • they failed because they should of just stuck to selling only size on and maybe supermax nothing else

    I use size on but not their wheys

    I use Optimum Nutrition Pro Gainer

    their size on I use all the time for post and it helps me

    many people don’t bother using it and think pre-workout is better but I know for a fact size on does work and people telling me I lift too much more than I can handle lecturing me I’m doing it wrong but I know myself and know what I can and can’t do

    if other people did it the way I did they would gain

    no matter how much I say sizeon work they don’t do it

    the only way it would work is to give samples to ALL The gyms

    marketing is what makes good products succeed and also no marketing also makes GOOD products die

    should of Never made anything else but Size on and Supermaxx (no experience with supermaxx as I don’t like preworkouts)

    Size on alone and good Marketting would most likely put gaspari out of bankruptcy

    bad business practices causes this to happen

    this is sad and I hope they don’t quit making size on!!!

    I should buy a lot like the twinkie people before it’s too late

    • Leroy Kelly

      It’s not “helping” you, dude. It’s entirely in your mind.

      • Don’t harass our users unless you have actual data to back it up.

        SizeOn’s ingredients are essentially carbohydrates, branched-chain amino acids, and creatine, in efficacious amounts.

        Say what you want about Gaspari, but these are some of the most well-researched compounds known to man (perhaps behind caffeine/coffee/tea), and I could cite about 800 studies that prove you’re wrong.

        Whereas I’ll argue that SizeOn may not be worth the *money* (you can just go buy some sugar, cheap creatine monohydrate, and BCAA powder for a fraction of the price), there really isn’t much argument when it comes to whether “SizeOn helps”.

        If you’re trying to build muscle mass / increase strength / perform better athletically, SizeOn definitely works. Try to find one well-performed study (out of the 750) that shows creatine *doesn’t* help, and you might have a leg to stand on.

        So either cite some sources or bring your weak argument to me or Gaspari, but don’t harass our visitors with your ignorance.

      • Leroy Kelly

        And I can “cite” you federal recall after federal recall after federal recall.
        Ya want something as good as or better than Chinese creatine? Save a fortune and boil an egg. Problem solved.

      • What? Just how much creatine do you think is in an egg?

        Even if you’re using CreaPure creatine, it’s insanely cheap.

        Plus, you just contradicted yourself. I thought it doesn’t “help”? But now the creatine does help?

      • will

        Mike don’t bother arguing with retards..

  • Leroy Kelly

    It’s amazing to me that there are so many suckers buying snake oil and crap in a can that is pickling human organs, whether it’s a noxious Gaspari product or a con man product from a different company. Delusional people that believe there is a cause and effect.

    • Your painting of an entire industry as “crap in a can” is just as ignorant as those who believe all of the most egregious marketing claims from some of these companies.

      On this site, we strike a balance and do that by citing well-performed research studies that are double-blinded, placebo-controlled, and peer-reviewed. There are certain things that DO in fact work. You might not like the marketing behind some of these companies, and you might not like some of the customers, but there are efficacious supplements and ingredients.

      It’s our job on this site to sort out which ones work and which ones don’t, and then find the best deal.

      So if you’re going to paint an entire industry and its consumers as “delusional” without citing some specific examples, I’m going to have to ask you to back your statements up with some sources or leave this site.

  • Dodgerbluez

    Unfortunately it seems as though more money is spent on marketing then actual quality ingredients. Majority of people do not read the ingredients because they “trust” the marketing. Most of these proteins heaviest ingredient is a “Protein blend/ Protein Matrix/ Ion exchange” Were as the first ingredient should be what it says on the label “WHEY PROTEIN” give me that as the main ingredient before you hit me with your blends. I’ve seen 40 gram scoopers with only 20-24 grams of protein. what is the other 16-20 grams in that scooper? Perfect example AMINO Energy says 9 gram scooper gets you 5 grams of Amino’s and 160mg of caffeine. Well what the hell else is in there? what’s the other 4grams? Personally I read the ingredients as well as look for GMP certified products.