US: ChampionLyte looks at possible sale
The isotonic beverage producer ChampionLyte Holdings, said yesterday it has engaged Miami-based investment banker Knightsbridge Capital to assist the company in exploring strategic options.
The company said the options may include a possible sale of one of its subsidiaries, a merger or acquisitions that are accretive to earnings.
Two years ago Knightsbridge was instrumental in taking control of ChampionLyte Holdings when it was on the brink of collapse. It assisted the company with its initial financing and a strategic restructuring program.
Currently the company consists of a beverage division, which markets ChampionLyte sugar free sports drink, and its Old Fashioned Syrup Company subsidiary, which manufacturers distributes and markets three flavours of sugar-free syrups. The company expects to soon launch a new low-carb subsidiary.
"While we've made great strides over the past two years in resuscitating the ChampionLyte brand and won a lengthy and costly legal battle to reclaim the Old Fashioned Syrup Company, we want to accelerate our efforts to increase shareholder value," said David Goldberg, president of ChampionLyte Holdings, Inc.
"Knightsbridge Capital is familiar with ChampionLyte Holdings since it previously played an integral role in assisting us with revitalising the company. We're confident their objective evaluation of the many opportunities that are available to us will be invaluable in helping us achieve our short- and long-term objectives."
Sectors: Soft drinks
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