HARBIN, China, Dec. 26, 2013 /PRNewswire-FirstCall/ -- Nutrastar International Inc. (OTCQB: NUIN; "Nutrastar" or the "Company"), a leading producer and supplier of premium branded consumer products made from commercially cultivated cordyceps militaris, including medicinal products, functional health beverages, and organic and specialty foods, today announced that its long-term shareholder and value-added investor, Accretive Capital Partners ("Accretive Capital"), has increased its ownership stake by approximately 96% through several private transactions with management and a third party shareholder.
Established in 2000, Accretive Capital Partners is a private investment fund founded and operated by Richard Fearon, an active member of the Board of Directors of Nutrastar. Accretive Capital seeks to partner with exceptional managers of undervalued small and micro-cap public companies which represent attractive take-private candidates. A renowned value investor, Accretive Capital has received top fund rankings by Morningstar, Barron's Magazine, Bloomberg, Lipper, Barclay Managed Funds, and Infovest21, among others, and was recipient of HFM Week magazine's prestigious Best Single Manager Long-Term Performance Award in 2011 among all United States hedge funds under $250 million.
On December 23, 2013, Accretive Capital purchased 800,000 common shares and 2,750 preferred shares (convertible into common stock at the ratio of 1:10) of the Company for a total of 827,500 common share equivalents in private transactions. Post transaction, Accretive Capital increased its ownership from 5.3% to approximately 10.4% and has been building its position in Nutrastar since it first invested in January 2011.
The transactions included the acquisition of 700,000 common shares from Nutrastar's Chief Executive Officer and Founder, Ms. '/>"/>
|SOURCE Nutrastar International Inc.|
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