ABBOTT PARK, Ill., Oct. 11 (UPI) -- Abbott Labs in Abbott Park, Ill., said Monday it has acquired EAS, a nutrition firm based in Golden, Colo.
Under the terms of the agreement, Abbott will acquire EAS for approximately $320 million in a cash-for-stock transaction.
EAS's portfolio of brands includes EAS, AdvantEdge, Myoplex and Body for Life.
EAS was founded in 1990 by Bill Phillips, author of the nutrition book Body for Life and was sold to North Castle Partners -- a private equity firm specializing in nutrition and healthy living -- in 1999. The company has more than 260 employees.
The transaction is not expected to have an impact on Abbott's 2004 ongoing earnings per share guidance. The transaction is expected to result in acquisition-related one-time charges in the fourth quarter of 2004.
The transaction is expected to close during the fourth quarter of 2004.
Abbott Labs is a global, broad-based, international health care company.
