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March 30, 2015 9:07 PM ET

Specialty Retail

Company Overview of Vitamin Shoppe Industries Inc.

Company Overview

Vitamin Shoppe Industries Inc. retails and markets vitamins, supplements, and sports nutrition products. The company markets products through brands such as the Vitamin Shoppe, BodyTech, and Vitapath. It also sells its products through its catalog and website. The company is based in North Bergen, New Jersey. Vitamin Shoppe Industries Inc. operates as a subsidiary of Vitamin Shoppe, Inc.

2101 91st Street

North Bergen, NJ 07047

United States

Phone:

201-868-5959

Fax:

800-852-7153

Key Executives for Vitamin Shoppe Industries Inc.

Chairman, Chief Executive Officer, Member of Nomination & Corporate Governance Committee, Chairman of Vitamin Shoppe Inc and Chief Executive Officer of Vitamin Shoppe Inc
Age: 61
Founder
Age: 67
Vice President of Retail
Compensation as of Fiscal Year 2014.

Vitamin Shoppe Industries Inc. Key Developments

KonaRed Nutritional Products Now Available in Select Vitamin Shoppe Locations Nationwide

KonaRed Corporation announced that The Vitamin Shoppe will begin carrying its products in select Vitamin Shoppe locations in 37 states across the U.S. The product rollout will include KonaRed On-the-Go Packets and 100% Hawaiian Coffeeberry in 150 Gram Tubs. KonaRed's products are differentiated from other functional beverages by their 'superfruit' ingredient, the powerful, antioxidant-packed Hawaiian Coffeeberry(R), coffee fruit from Kona, Hawaii.

Colson Hicks Eidson Files Negligence Lawsuit Against USPlabs, LLC and Vitamin Shoppe Industries, Inc

Colson Hicks Eidson filed a complaint in Federal Court in Miami, Fla. on behalf of Plaintiff Eric Rizzo against USPlabs, LLC and Vitamin Shoppe Industries, Inc. Rizzo suffered injuries, including acute, non-viral hepatitis and other damage to his liver as a result of consuming OxyElite Pro tablets and powders, a dietary supplement marketed to increase muscle mass and weight loss. Rizzo, 40, has been diagnosed with liver toxicity and permanent liver damage which has caused serious physical impairment. He suffers from jaundice and has been unable to work or do anything requiring exertion as a result. In October 2013, the Food and Drug Administration sent a warning letter to the USPlabs, LLC, noting that OxyElite Pro and another dietary supplement had been adulterated because they contained aegeline, a 'new' dietary ingredient that lacks a history of use or other evidence of safety. Aegeline was used as a substitute for dimethylamylamine (DMAA), a stimulant used by USPlabs in an earlier formation of its OxyElite Pro products that can cause heart attacks, seizures, psychiatric disorders and death. The FDA undertook administrative actions that eventually resulted in USPlabs ceasing to manufacture and destroy its products containing DMAA. The company later reformulated its products substituting DMAA with aegeline. In November 2013, the Food and Drug Administration ordered USPlabs, LLC, to recall the products due to a number of cases of acute liver failure and hepatitis linked to OxyElite Pro products reported in Hawaii and a number of other states, including one death and one patient requiring a liver transplant and others awaiting liver transplants. Rizzo purchased the supplements from The Vitamin Shoppe retail locations in Miami-Dade and Broward counties in or around July 2013 and November 2013. The Complaint asserts negligence and strict liability, including failure to exercise reasonable care and failure to warn consumers of the potential risk of injury associated with the supplement.

Vitamin Shoppe, Inc. and its Subsidiaries Enter into a Second Amendment to Amended and Restated Loan and Security Agreement and First Amendment to Existing Guarantees with Jpmorgan Chase Bank, N.A

On October 11, 2013, Vitamin Shoppe, Inc., as a guarantor, and certain of its subsidiaries, Vitamin Shoppe Industries Inc., VS Direct Inc., Vitamin Shoppe Mariner, Inc. and Vitamin Shoppe Global, Inc. entered into a Second Amendment to Amended and Restated Loan and Security Agreement and First Amendment to Existing Guarantees with JPMorgan Chase Bank, N.A., in its capacity as agent for the lenders thereunder. In connection with the company’s acquisition of the assets of Super Supplements, Inc. for $50,000,000 in cash in February 2013, the Loan Agreement was amended on January 10, 2013 pursuant to the terms of that certain First Amendment to Amended and Restated Loan and Security Agreement, by and among the Agent, the company, VS Industries, VS Direct and VS Mariner. The First Loan Agreement Amendment removed the $25,000,000 maximum dollar limit under the definition of ‘Permitted Acquisitions’. Also on January 10, 2013, VS Mariner, the subsidiary through which the company acquired the assets of Super Supplements, Inc., executed a joinder to the Loan Agreement pursuant to which it became a borrower under the Loan Agreement, and the company, VS Industries and VS Direct entered into a Guarantee in favor of the Agent guaranteeing the obligations of VS Mariner under the Loan Agreement. As a result of the October 2013 Amendment, the lenders’ aggregate loan commitment under the Loan Agreement increased to $90,000,000, with an option by the Borrowers to increase the commitment to an aggregate amount of $150,000,000, with such additional amount being fully committed by the lenders. Pursuant to the October 2013 amendment, borrowings under the Loan Agreement will now bear interest, at the borrowers’ option, at a rate per annum based on either (a) the ‘Alternative Base Rate’ plus 0.25% or 0.50% or (b) the ‘Adjusted Eurodollar Rate’ plus 1.25% or 1.50% in each case with the higher spread applicable in the event that the aggregate amount of the borrowings under the Loan Agreement exceeds 50% of the borrowing base availability under the Loan Agreement. The October 2013 Amendment also increased certain of the Loan Agreement’s basket thresholds with respect to collateral covenants, affirmative and negative covenants and events of default and amended the collateral and financial reporting covenants. Pursuant to the October 2013 Amendment, the maturity date of the revolving credit facility available under the Loan Agreement has been extended to October 11, 2018, although the Agent has the right to terminate the Loan Agreement at any time upon the occurrence of an event of default under the Loan Agreement. The Borrowers may terminate the Loan Agreement and repay any outstanding amounts at any time subject to prior notice being delivered to the Agent.

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