Nu Skin Finalizes Purchase of Corporate Properties

In the next steps of its headquarters expansion project, Nu Skin Enterprises, Inc. today announced that it purchased its existing corporate headquarters buildings and distribution center in Provo, Utah, for approximately $33 million.


“The completion of the purchase agreement and purchase of these buildings was the next step in our planned development project that will feature a new innovation center and expanded downtown campus,” said Truman Hunt, Nu Skin president and chief executive officer. “We are pleased with our pace in moving forward with this project and look forward to breaking ground on the project this spring.”


“From a financial perspective, we expect that the purchase of these buildings will have a positive impact on our earnings,” said Ritch Wood, Nu Skin chief financial officer. “We borrowed some of the funds, taking advantage of current favorable borrowing rates. We anticipate this transaction will add approximately $0.02 per share annually to our bottom line from 2011 forward.”


Nu Skin is purchasing the buildings from two partnerships that are owned primarily by some of the company’s founding stockholders, including Blake M. Roney, Steven J. Lund and Sandra N. Tillotson, who are currently serving as directors and executive or senior officers of the company. The transaction was reviewed, negotiated and approved by a special committee of independent directors, who retained independent advisors to assist them in their review.