Veyl Ventures acquires assets of Arizona facility to expand manufacturing capabilities
NEW YORK–(BUSINESS WIRE)–Veyl Ventures, a leading health and wellness portfolio of brands, announced today that it has acquired certain assets of Fine Living Pharmanaturals (FLP), effective June 30, 2023. As a result, the existing manufacturing facility will now be operating under a new entity called Veyl Wellness Works LLC (dba Nutritio Labs), a wholly owned subsidiary of Veyl Ventures.
Nutritio Labs will be providing manufacturing services to its own brands and external customers from its Tempe, Arizona based facility. They will also employ the current personnel of FLP, roughly 170 people to manage on-site operations. Nutritio Labs will work on building new relationships with vendors and customers to provide industry-leading manufacturing services.
Nutritio Labs also plans to make capital investments in 2023 and 2024 to further improve the production capabilities, efficiencies, and scale of the manufacturing lines to provide the best value to its customers.
With a strong commitment to health and wellness and a rapidly expanding business model, this move will allow Veyl Ventures to add production capabilities to its operations while providing best-in-class manufacturing services to its external customers.
“Veyl has seen exponential growth over the past year and being able to bring manufacturing in-house is a significant step in the company’s continued expansion story,” said Cody Low, Veyl Ventures CEO. “While Nutritio Labs will be manufacturing some of the products within Veyl Ventures portfolio, Veyl will continue to use other co-packers to produce the rest of their products.”
The manufacturing facility and warehouse is a combined 175,000 square feet.
ABOUT VEYL VENTURES
Veyl Ventures partners with leading experts across the health, beauty, and wellness industries to develop some of today’s most innovative lifestyle-focused and sustainably minded brands. The Veyl portfolio and culture prioritizes people, planet, and pets – making up a community of 125+ passionate and committed CPG leaders across the globe. By reinventing the traditional business model, Veyl efficiently scales brands with proven accelerated success. For more information, please visit veyl.com.
Chapman Communications Group
Samantha Chapman, [email protected]