Sisel International released a press release on 8 June 2007 in response to the lawsuit issued against them by Neways International.
Neways was sold to Golden Gate Capital in 2006 and since the acquisition, Golden Gate has sold off assets such as the corporate headquarters and manufacturing facilities in Utah. As with its acquisition of Herbalife, it seems Golden Gate are liquidating Neways in preparation of a sell off as a former shell of itself or to use the funds raised for other take-overs.
Sisel International is run by Darrick Mower and Tom Mower Junior, the sons of Tom and Dee Mower who were the founders of Neways International. It has a small range of nutritional products available but intends to bring to market a larger range of nutritional and personal health products that they claim will be the highest quality in terms of safety and effectiveness for consumers. It also claims to have a compensation plan that has ironed out all the foibles of other compensation plans currently available.
Neways International was the original company built by Tom Mower Senior and Dee Mower. It was sold to Golden Gate for an estimated $US700 million. As the...
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