Columbia West Capital News
10.21.09 CWC Closes Sale of Lifetime Nutraceuticals

October 14, 2009
- Columbia West Capital is pleased to announce the sale of the LifeTime brand of Baywood International, Inc. (OTCBB: BAYW) ("Baywood") to Nutraceutical International Corporation (NasdaqGS: NUTR).

Baywood has historically engaged in the development, marketing, and distribution of nutraceutical products under the LifeTime brand. After the sale of the LifeTime brand, Baywood will be focusing on its emerging line of ready-to-drink tea beverages, namely New Leaf Tea. As part of that new focus, Baywood is changing its name to New Leaf Brands. Under the leadership of CEO Eric Skae, New Leaf Brands has created 12 flavors of all-natural New Leaf Tea, as well as two diet varieties that are sold through 8,000 accounts primarily in the Northeast and growing into the Southeast and Midwest.

Baywood engaged CWC as its exclusive financial advisor to divest the LifeTime assets in order to recapitalize the company in preparation for its planned growth of the New Leaf product line. At the conclusion of a successful full-auction process, Nutraceutical International Corporation, a $160 million public company, executed a definitive agreement to acquire the LifeTime assets for 6.1x Trailing GAAP EBITDA.

"LifeTime is a well-respected brand in the nutraceutical industry, and we needed to find the right acquirer who would not only meet our financial targets, but also continue to grow the brand to its fullest potential," stated Neil Reithinger, Chief Operating Officer for Baywood. "CWC added significant value by creating a competitive bidding environment, successfully negotiating "adjustments" to EBITDA and purchase multiple improvements, and negotiating substantial improvements in proposed terms, resulting in more cash at close and a shorter timeline to close the transaction."