- Company Also Completes Financing Associated with Acquisition Closing -
LARGO, Fla., Dynamic
Health Products,
Inc.
Mandeep Taneja, CEO of Dynamic Health Products stated, "The timely closing
of the DMI acquisition demonstrates Dynamic's commitment to expanding the
sales, marketing and
distribution channels for our rapidly growing line of
sports nutrition products, dietary supplements
and health and beauty care
products."
"Going forward, we plan to continue executing on this
acquisition
strategy, driving industry consolidation and leveraging the resulting
economies of
scale. DMI has distribution centers located in Cranston, RI and Henderson,
NV, and is the second
largest distributor of performance drinks in the United
States.
Dynamic Health to Acquire Sports Nutrition
and Performance Drink Distributor
Closing of the transaction is
subject to Dynamic's completion
of due diligence, the completion of audited
financial statements of DMI and other customary terms
and conditions. Dynamic
anticipates closing the transaction on or about March 31, 2005."
Dynamic Health Products, Inc.health sports
(DMI), a sports nutrition and
performance drink distributor with
revenues (audited) of $13.6 million for the
year ended December 31, 2004. In accordance with the
terms of the agreement,
announced on March 3, Dynamic Health Products paid consideration of
approximately
$3 million, consisting of cash, stock, and the payoff of
non-assumable obligations of DMI.
In addition, on March 30, 2005, the Company completed a financing
transaction with Laurus Master
Funds, Ltd to fund the payoff of the
non-assumable obligations of DMI. (DMI), a
sports nutrition
and performance drink distributor with approximately
$14 million in unaudited annual revenues.
Mandeep Taneja, CEO of Dynamic stated "We continue to execute on our
strategy of expanding sales
, marketing and distribution channels for our
rapidly growing line of sports nutrition products, dietary
supplements and
health and beauty care products. Taneja.sports shopping
(OTC Bulletin Board: DYHP) today announced
that it has completed the
acquisition of Dynamic Marketing, Inc. The acquisitions made in the last
six months position Dynamic for a
revenue run rate of approximately $50 million in the fiscal year
that
commences on April 1.
DMI is engaged in the wholesale and distribution of a wide variety
of
non-prescription dietary supplements, health food and nutritional products,
performance drinks
, tanning products, exercise accessories and other related
products.
About Dynamic Health
Products
Dynamic Health Products, Inc.
This press release may contain statements which
constitute forward looking
statements within the meaning of the Private Securities Litigation Reform
Act
of 1995, including those regarding the company and its subsidiaries'
expectations, intentions
, strategies and beliefs pertaining to future
performance. All statements contained herein are based
upon information
available to the company's management as of the date hereof, and actual
results
may vary based upon future events, both within and without
management's control. Important factors
that could cause such differences are
described in the company's periodic filings with the Securities
and Exchange
Commission.
Contact Information
Cani Shuman
Chief Financial
Officer
Tel: 727-329-1845
Further Enhances Marketing and Distribution
Base
LARGO, Fla., Dynamic Health Products,
Inc. (OTC Bulletin Board: DYHP) today announced
that it has entered into an
agreement and plan of merger to acquire Dynamic Marketing, Inc. DMI
has distribution centers located in Cranston, RI and Henderson,
NV, and is the second largest distributor
of performance drinks in the United
States. DMI currently sells approximately 90 product
lines
with more than 1200 individual products, which complement our existing
offering and add depth to
our performance drink selection. Important factors that could cause such differences are
described
in the company's periodic filings with the Securities and Exchange
Commission.top sports
For example, in November
2004, we entered into a letter
of intent for the potential purchase of certain assets of a major
nutritional
product manufacturer, marketer and distributor for $65 million in cash.
Revenues
(unaudited) for this potential acquisition were approximately $89
million for 2003," concluded Mr
. is a rapidly growing developer, wholesaler
and distributor of sports nutrition products, non-prescription
drugs, dietary
supplements, vitamins, health food and nutritional products, soft goods and
other
related products.
DMI is engaged in wholesaling and distributing a wide variety of
non-prescription
dietary supplements, health food and nutritional products,
performance drinks, tanning products,
exercise accessories and other related
products. Dynamic
intends to complete a financing transaction
to fund the payoff of non-
assumable obligations of DMI at the closing of the acquisition.top shopping
Dynamic
Health Products Completes Acquisition of Dynamic Marketing Inc.
"
Upon closing of the agreement
, Dynamic will pay consideration in excess of
$3 million, consisting of cash and stock.
This press release may contain statements which constitute forward looking
statements within the
meaning of the Private Securities Litigation Reform Act
of 1995, including those regarding the company
and its subsidiaries'
expectations, intentions, strategies and beliefs pertaining to future
performance
.
Contact Information:
Cani Shuman
Chief Financial Officer
Tel:
727-329-1845
supplements health
The agreement with Laurus includes a
secured revolving note not to exceed
$4 million and a warrant to purchase
750,000 shares of the Company's common stock. Taneja.
"With DMI, Dynamic will have completed its third acquisition in the sports
nutrition distribution
industry since October 2004," added Mr. "We
are driving industry consolidation in order to leverage
the resulting
economies of scale. is a rapidly growing developer, wholesaler
and distributor of
sports nutrition products, non-prescription drugs, dietary
supplements, vitamins, health food and
nutritional products, soft goods and
other related products. All statements contained herein are
based upon information
available to the company's management as of the date hereof, and actual
results
may vary based upon future events, both within and without
management's control.sports shopping
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