| Weider Nutrition International, Inc. | |||
| Ticker: | WNI | 1960 South 4250 West | |
| Exchange: | New York Stock Exchange | Salt Lake City, UT 84104 | |
| Industry: | Wholesale (SIC Code 5149) | (801) 975-5000 | |
| Type of Shares: | Class A Common Shares | Filing Date: | 9/27/96 | |
| U.S. Shares: | 4,480,000 | Offer Date: | 4/30/97 | |
| Non-U.S. Shares: | 1,120,000 | Filing Range: | $13.50 - $16.50 | |
| Primary Shares: | 5,600,000 | Offer Price: | $11.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.77 | |
| Offering Amount: | $84,000,000 | Selling: | $0.47 | |
| Expenses: | $1,500,000 | Reallowance: | $0.10 | |
| Shares Out After: | - |
| Manager | Tier | Phone |
| CS First Boston | Lead Manager | (212) 325-2000 |
| Adams, Harkness & Hill | Co-manager | (617) 371-3705 |
| Hambrecht & Quist Incorporated | Co-manager | (415) 439-3626 |
| Salomon Brothers Inc. | Co-manager | (212) 783-2947 |
| Issuer's Law Firm: | Latham & Watkins |
| Bank's Law Firm: | Irell & Manella |
| Auditor: | Deloitte & Touche |
| Registrar/Transfer Agent: | Bank of New York |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 5/31/96 | 8/31/96 | 8/31/95 | 8/31/96 | ||
| Revenue: | $186.41 | $46.93 | $37.78 | Assets: | $132.10 |
| Net Income: | $14.96 | $2.50 | $2.28 | Curr Assets: | |
| EPS: | Liabilities: | $91.01 | |||
| Prior EPS: | Curr Liabilities: | ||||
| Cash Flow/Oper: | Equity: | $41.10 | |||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is a leading manufacturer of branded and private label nutritional supplements and is a leading marketer of multiple brands of nutritional supplements through multiple distribution channels. The company manufactures a broad range of capsules and tablets, powdered drink mixes, bottled beverages and nutrition bars and markets branded products in four principal categories: sports nutrition; vitamins, minerals and herbs; diet; and healthy snacks. The company markets its branded products through each key distribution channel and is one of the leading marketers of nutritional supplement products to the mass volume retail channel, one of the most significant and growing distribution channels in the nutritional supplement industry. Consistent with management's multi-channel strategy, sales of the company's products in fiscal 1996 were balanced among mass volume retailers, health food stores and a combination of other channels, including health clubs and gyms, international markets and private label manufacturing. |
| Competition |
| The nutritional supplement industry consists of six principal types of suppliers: independent health food suppliers, who focus primarily on vitamins and nutritional supplements; mass volume retail suppliers, who sell nutritional products that have mass appeal; gym and health club product companies; direct sale and mail order marketers; private label manufacturers; and major pharmaceutical companies. |
| Business Plan |
| The company has demonstrated the ability to grow its business profitably by introducing new brands and products, expanding distribution capability and acquiring related businesses. The company's strategy is to: 1) leverage its portfolio of established brands; 2) develop new brands an product line extensions; 3) continue growing its balanced distribution network; 4) acquire strategically related businesses and product lines; 5) further penetrate international markets. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for i) to repay outstanding indebtedness under the existing credit agreement and a note payable to the Parent incurred primarily in connection with taxes paid by the Parent on behalf of the company and certain acquisitions made by the company ii) $18 million is expected to be paid at the closing of the offerings in connection with a one time dividend to the holder of the Class B Common Stock iii) the remainder if any, will be used for working capital and general corporate purposes including strategic acquisitions. |