Hi-Tech Pharmaceuticals picks up four Innovative sports nutrition brands

NORCROSS, Ga. - Hi-Tech Pharmaceuticals on Tuesday acquired Innovative's brand of diet aids. 

 

"The acquisition of the Innovative brand of diet and energy aids accelerates Hi-Tech's sports nutrition and weight loss growth strategy, substantially boosts our weight loss 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 weight loss and sports nutrition position by expanding market opportunities. Innovative has strong distribution to enhance our position with sports nutrition distributors and retail outlets," he said. 

 

Innovative produces Black Mamba Hyperrush, Diablos ECA Fire Caps, Diablos Hyperburn and Hell Fire.

 

Just the sports nutrition category, which includes powdered and ready-to-drink, grew by 13% in 2013, Hi-Tech reported, in what the company defines as a $30 billion category. The largest portion of the sales in that market comes from sports and energy drinks and shots, which make up 56% of sales ($17.1 billion). The second largest category is sports nutrition supplements at 15% ($4.5 billion), followed closely weight-loss meal replacement supplements at 11% ($3.3 billion) and Weight-loss pill-form supplements at 6% ($2 billion).

 

"The acquisition of Innovative expands our offerings of mainstream, weight loss and sports nutrition products, including protein-rich foods, and broadens our appeal with younger consumers," commented Steve Smith, Hi-Tech EVP.