This nutraceuticals blog is not intended to follow the goings-on in the world of real estate, but one real estate developer company recently caught my eye when he agreed to purchase a nutraceuticals company.
In yesterday’s edition of the Boston Herald, a brief story on the foray into the nutraceuticals business by Cincinnati developer Charles Kubicki Sr. appeared in a newsfeed on Nutraceutic. According to the paper, an investment company headed by Kubicki will purchase Berkeley Premium Nutraceuticals for $4 million.
Berkeley sells a number of different herbal dietary supplements and is best known for its "male enhancement" pill, Enzyte, which claims to aid in sexual performance. The company has extensively marketed the product in television ads featuring a character named Smilin’ Bob. Moving forward, Kubicki said Enzyte will remain a brand but the company name will change.
The real interesting thing about this story is that Kubicki purchased Berkeley, which had fallen into bankruptcy amid fraudulent management activities (I know – more bad public relations for the nutraceuticals industry – just what we need in this economy) because of its strategic physical real estate location in Forest Park; the developer owns the building that is being leased by Berkeley and feared another buyer would move Berkeley and its jobs out of the area.
This should bring more big smiles to the nutraceuticals world; Kubicki also plans on reducing his ownership stake in the company to 25 percent, transforming the company into more of an employee-owned business.
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