Hi-Tech beefs up sports nutrition with iForce acquisition

NORCROSS, Ga. - Hi-Tech Pharmaceuticals continues to grow its sports nutrition base with the acquisition of iForce Nutrition, the company announced Friday.

 

"The combination of these two great companies accelerates Hi-Tech's sports nutrition growth strategy, substantially boosts our sports nutrition portfolio and diversifies our business stream," stated Jared Wheat, Hi-Tech chairman, president and CEO. "We believe this strategic transaction will enhance our industry-leading sports nutrition position by expanding market opportunities. iForce brings strong relationships to enhance our position with sports nutrition distributors, and a highly experienced management team to support Hi-Tech's continued growth." 

 

Hi-Tech expects this merger to widen its customer base in the sports nutrition field and strengthen its bodybuilding presence. 

 

"Together, our combined company will have an even larger product portfolio, broader geographic reach, and enhanced scale," Wheat said.  

 

Hi-Tech's desire to acquire iForce is part of Hi-Tech's strategy to capitalize on its recently increased manufacturing capacity. Recently, Hi-Tech completed its 40,000 state-of- the-art facility in Suwanee, Ga. and added 42,000 square feet to its warehousing capacity to bring the total square footage in Georgia to 190,000 bringing Hi-Tech to a total of 390,000 square feet.

 

Hi-Tech's recent acquisition of Nittany Pharmaceuticals, a manufacturer of OTC and prescription drugs, energy shots and premium shelf stable beverages made with hot fill and aseptic technology allowed Hi-Tech to enter the liquid manufacturing business. This also allows Hi-Tech to diversify into OTC and prescription drugs in the future. The RTD business and shot business will enhance Hi-Techs' capabilities in the rapidly growing area of nutritional beverages and energy shots. 

 

"The acquisition of Nittany Pharmaceuticals expanded our ability grow the Hi-Tech and iForce brands with the addition of liquid products, and to serve our private label customers with end to end solutions, from concept to formulation to end product manufacture of beverages," said Steve Smith, SVP Hi-Tech. "With this new capability, along with our extensive portfolio of nutritional products, manufacturing expertise and reputation, we are well positioned to help our customers grow and expand their business. The combination of Hi-Tech and iForce also provides a powerful opportunity to transform our industry with the new Heamavo2 Xtreme RTD."