Natrol sells Annasa
This article was originally published in The Tan Sheet
Executive Summary
Senior Distribution & Operations managers of Natrol's Annasa multi-level marketing division, David Armstrong and David Roudebush, will head Annasa International Corporation as CEO and COO, respectively, effective January 1. Natrol has invested roughly $3 mil. in operations since establishing the subsidiary in 2002. Armstrong said Annasa is on track to be cash-flow positive for FY 2004, a goal previously outlined by Natrol CEO Elliott Balbert (1"The Tan Sheet" Aug. 25, 2003, p. 17). In its most recent 210-Q filing for the nine months ended Sept. 30, 2003, Natrol reported Annassa sales of $465,000 and $1.4 mil. loss from operations. According to Armstrong, Annasa will remain focused on multi-level marketing of high-end nutritionals...