Shareholders Stand With Usana Buy Out Offer

Salt Lake Tribune

A group of shareholders of Usana Health Sciences has reaffirmed its offer to buy out the remaining shareholders of the health care products company even though the company rejected the $26-a-share bid as too low.

The group led by Usana founder and CEO Myron Wentz said Monday it was pressing ahead with its offer after viewing the company's preliminary second-quarter financial results released last week.

"Usana's earnings guidance further solidifies (the group's) confidence that the financial conditions related to the previously arranged financing for the transaction will be satisfied," Gull Holdings Ltd. and Unity Acquisition Corp. said in a statement.

On Wednesday, Salt Lake City-based Usana said it expects earnings per share to be between 60 cents and 63 cents when it reports second-quarter results next month.
Sales are expected to fall between $107 million and $109 million, Usana said.

Tahitian Noni Names New President

Marketwire

Kerry Asay, CEO and chairman of the board of Morinda Holdings, Inc., and Tahitian Noni International today announced that John Wadsworth has been named as the new president of Tahitian Noni International. John is one of the original founders of Tahitian Noni International and was a co-creator of TAHITIAN NONI® Juice, made from the original super fruit, noni (Morinda citrifolia). Effective July 1st, John will replace Kelly Olsen as president of TNI.

"For the past three years, John Wadsworth has been on a sabbatical assignment for his church," stated Kerry Asay. "John, along with Stephen Story, were the original creators of TAHITIAN NONI Juice. It is John's story of the discovery of noni in the Tahitian islands that remains the foundation of our vision of taking Tahitian Noni® products to everyone, everywhere," said Asay. "John remains a key visionary in the growth and success of Morinda and TNI and will bring his expertise and insight into this new assignment, building on the foundation laid in the previous 12 years, to position TNI for tremendous growth in the future."

MonaVie Dismisses Lawsuit

Drinks Business Review

Beverage company MonaVie has announced that the trademark lawsuit brought against it by California-based Imagenetix has been dropped.

The two companies reached an agreement recently and all claims against MonaVie have been dismissed.

Dallin Larsen, founder and president of MonaVie, said: "We are pleased to have reached an agreement with Imagenetix and to move forward focusing on our great products. As has always been the case, MonaVie is committed to conducting business with the utmost regard for integrity and moral principles.