October 13, 2007 |
Zacatecas, Mexico Selling pricey diet-shake mixes in a developing country wouldn't seem like a very smart business idea, but Enrique Varela was despairing. Eighteen years ago, his animal-feed business was struggling. He was thousands of dollars in debt. Today, he and his wife own a fleet of luxury cars, four ranches and eight houses -- including a custom-built home with an elevator and a cupola-covered hot tub overlooking a golf course in this central Mexican city.
August 7, 2007 |
Herbalife Ltd., which sells nutritional supplements and other weight management products, said Monday that its second-quarter earnings rose 32%, helped by sales in North America and China. Net income rose to $48.1 million, or 65 cents a share, from $36.3 million, or 49 cents, a year earlier, the company said. Excluding a tax settlement, net income was 64 cents a share. Revenue rose 14% to $530.1 million from $466 million last year.
May 25, 2007 |
Herbalife Ltd., a seller of nutritional and weight-loss supplements, said Chairman Peter Castleman had resigned to focus on other business activities. Chief Executive Michael O. Johnson has assumed the post. Board member David Halbert also resigned, Century City-based Herbalife said.
April 10, 2007 |
Herbalife Ltd., a seller of nutritional and weight-loss supplements, said Monday that talks about a sale of the company to its largest shareholder, Whitney & Co., had ended. A special committee set up to consider an offer was disbanded, Century City-based Herbalife said in a statement. The company said Thursday that Whitney was considering raising a previous offer of $2.7 billion, which Herbalife had rejected last month. Whitney was among the investors that took Herbalife public in 2004.
March 31, 2007 |
An investment group whose bid for Century City-based Herbalife Ltd. was rejected said Friday that it was withdrawing the $2.7-billion offer -- and that it might sell the Herbalife shares it owns or buy some more. J.H. Whitney & Co., which owns about a quarter of Herbalife's shares, said in a letter to Herbalife's board that it was disappointed by the rejection. The letter warned that "depending on developments," New Canaan, Conn.-based Whitney "may engage in sales or purchases of shares."
March 30, 2007 |
Herbalife Ltd., the Century City-based direct seller of nutritional and weight-loss supplements, said Thursday that it had rejected a $2.7-billion buyout offer from one of its largest shareholders, calling the acquisition price too low. "We remain open-minded about ways to achieve appropriate value for the company," Leroy T. Barnes Jr., chairman of a committee set up by Herbalife's board of directors to study the bid, said in a statement.