PDK Labs
This article was originally published in The Tan Sheet
Executive Summary
Negotiating to acquire herbal and botanical extract supplier Dr. Madis Labs, PDK announced May 2. PDK, which manufactures and distributes OTCs and vitamins, said it has entered into a letter of intent with the Chapter 11 trustee of the Dr. Madis estate to acquire substantially all assets of the company for an aggregate purchase price of approximately $2.4 mil. The acquisition is subject to approval by the bankruptcy court. Dr. Madis had 1993 sales of $5.2 mil.; PDK sales for the year ended Nov. 30,1993 were $18.7 mil