From a post on another forum
"I am happy to announce that effective March 7, my partners and I have sold Applied Nutriceuticals.
The new owner, Mr. Lance Rankin, is based in San Diego and recently sold Premier Nutrition (makers of protein bars and shakes). He brings tons of knowledge and opportunity to the table, and plans on investing heavily in the company to fuel accelerated growth. Also joining the team is Pete Vasdias, who will be assuming the General Manager role, overseeing daily operations and finances. Both of these individuals are truly great guys and in a short time we’ve developed a strong friendship and admiration of their knowledge and abilities. I am 100% confident that they are going to take AppNut to levels previously thought unattainable via completely new products and categories.
Dirk will be remaining in his current role as the chief chemist on a permanent basis, and Tanya and I will be remaining on board for a yet undetermined amount of time to assist with the transition. Otherwise, no other changes are being made to the staff, business location or day-to-day activities.
There is one additional twist. Due to Lance’s non-compete with his former company, Applied Nutriceuticals will no longer be able to produce or sell powdered products for several years. Therefore, Lit-Up will be divested separately to another buyer, who will role it into their existing brand. Barring any unforeseen issues, we hope to consummate the sale before the end of the month. In the meantime, since our existing inventory is branded Applied Nutriceuticals, we cannot sell it until it is repackaged. I will keep you apprised of those changes once it’s all nailed down.
Over the next few weeks we’ll be working with Lance and Pete to bring them up speed on all the finer nuances of our operation. Otherwise, it’s business as usual. I’ll be around for a while, so all the programs and projects we’re working on will proceed uninterrupted.
I want to personally thank the team here at BB.com both past and present as we’ve made a lot of good friends both at the corporate level and here on the forums. Rest assured we’ll still be lurking about from time to time. As for new ventures…only time will tell!
All the best -