Gaspari Nutrition Inc., a developer of sports nutrition supplements founded by bodybuilder Rich “The Dragon Slayer” Gaspari, got permission to sell the business to Allegro Nutrition LLC after the buyer more than doubled its initial offer at auction (In re Gaspari Nutrition Inc., Bankr. D.N.J., 14-30963, sale approved 12/5/14).
A judge in Trenton, N.J., signed an order Dec. 5 approving the sale.
The purchase price is $10.1 million, subject to adjustment for inventory and accounts receivable as specified in the sale contract. The so-called stalking horse, affiliated with Ireland-based Allegro Ltd., originally offered $5 million, subject to ...
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