Former Hershey executive joins PBM Products
GORDONSVILLE, Va. PBM Products, an infant formula company that supplies store-brand infant formulas to Walmart, Sam’s Club, Target, Kroger, CVS, Walgreens and other retailers, announced the hiring of a former Hershey executive.
Thomas Hernquist was appointed PBM’s new EVP foods, liquids and U.S. marketing. Most recently, he served as SVP and global chief growth officer at Hershey. In that capacity, he was responsible for companywide strategic plans, global brand marketing and innovation, research and development, acquisition strategy, and corporate social responsibility. In addition, Hernquist currently is the chairman of the board for the American Marketing Association.
“The growth of private label in the United States is staggering,” PBM CEO Paul Manning said. “When a seasoned national-brand marketer like Tom switches gears to market store-brand nutritional products, you know that a transformation is happening across the country.”
Inverness sells vitamins, supplements business
WALTHAM, Mass. Inverness Medical Innovations on Tuesday announced the sale of its vitamin and nutritional supplements business to International Vitamin Corp. for an approximate $63.4 million.
The sale includes Inverness Medical Nutritionals and IVC Industries and constitutes Inverness’ entire vitamin and nutritional supplements business segment. Inverness sold the assets of the business, which include manufacturing facilities N.J.
Through the first nine months of 2009, the business generated net revenues of $63.6 million and contributed an operating loss of $2.4 million.
As a result of the sale, Inverness’ vitamin and nutritional supplements business segment will be presented as a discontinued operation in its financial statements for the fiscal year ended Dec. 31, 2009.
MuscleMaster.com announces voluntary recall of 17 dietary supplements
NORTHBOROUGH, Mass. MuscleMaster.com last week recalled 17 of its dietary supplement brands sold between June 1, 2009, and Nov. 17, 2009, following a communication from the Food and Drug Administration that the products in question may contain ingredients that are steroids.
Specifically, the FDA advised MuscleMaster.com of its concern that the recalled products may contain the following ingredients that are currently classified, or that the FDA believes should be classified, as steroids: “Superdrol,” “Madol,” “Tren,” “Androstenedione” and/or “Turinabol.”
While MuscleMaster.com cannot independently confirm the FDA’s concerns that any one or more of the recalled products in fact contain these ingredients, “MuscleMaster.com is undertaking this voluntary recall out of an abundance of caution and in deference to [the] FDA’s stated concerns,” the online retailer stated.
MuscleMaster.com is an Internet retailer and did not manufacture or formulate these products, the company further stated. “MuscleMaster.com’s decision to implement this recall is not, and should not be construed as, an admission that their decision to sell these products was in violation of the law. In addition it is not, and should not be construed as, an admission that these products are not in compliance with the law.”