Veria is part of the Essel Group of companies, a multi-billion-dollar consortium encompassing television networks, cable systems, satellite communications, entertainment enterprises, and one of the world's largest packaging companies. Subhash Chandra, Chairman of the Essel Group and founder of Veria, commented that "Veria is committed to supporting consumers' growing interest in a natural wellness lifestyle. Massage is an essential part of a healthy lifestyle, and Massage Envy brings the benefits of massage to thousands more Americans every month by making it convenient and affordable. We are proud to welcome Massage Envy to the Essel family."
The acquisition includes Massage Envy Ltd., LLC, and its affiliates Massage Elements, LLC and Massage EN V, LLC.
Sagent Advisors Inc., an independent, privately-owned investment bank,
initiated this transaction and served as financial advisor to Veria.
Edgeview Partners, a subsidiary of CIT Capital Securities, LLC, advised
Massage Envy during the transaction.
THERAPEUTIC MASSAGE INDUSTRY
BY THE NUMBERS
* Between August 2006 and June 2007, almost a quarter of Americans (24
percent) had a massage at least once.
* Forty-three percent of women and 25 percent of men have had a massage
in the last five years.
* Of these people, 30 percent report they did so for health conditions.
* Eighty-five percent agree that massage can be beneficial to health and
* According to the U.S. Department of Labor, employment of massage
therapists is expected to increase 20 percent from 2006 to 2016, faster
than average for a
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