Acquisition On 06/30/2023 With Undisclosed Details

Will Reynoso of Moecker Brokers (@willthebroker) facilitated the sale of the assets of Pharmalab Enterprises Inc. RNV LLC, the buyer, lead by Jignesh Patel and Ankur Patel made the acquisition through an assignment for the benefit of creditors (ABC) auction, with RNV securing the assets for $5,000,000, plus credits and reimbursements for a total of over $5,400,000. Will Reynoso and the team at Moecker were able to overcome longer than expected licensing requirements for the Buyers, and with multiple closing extensions, crossed the finish line.

Pharmalab Enterprises Inc. has long been recognized for its exceptional line of liquid and semi-solid dietary supplements, over-the-counter drugs, and other related products. With this strategic acquisition, RNV aims to expand the company's reach and enhance its product offerings in the global market. "Our growth strategy will allow us to strengthen the company’s presence in the private label pharmaceutical manufacturing and distribution sector. Pharmalab's extensive range of health and sports-related products, including oral electrolyte solution liquids and sports drinks, presents exciting opportunities for expansion both domestically and internationally."