Nature's Sunshine Products
Nature's Sunshine Products, Incorporated (NASDAQ: NATR), also known as "NSP", is a manufacturer and multi-level marketer of dietary supplements, including herbs, vitamins, minerals, and personal care products. It is based in Lehi, Utah, with a manufacturing facility in Spanish Fork, Utah.
| Type | Public |
|---|---|
| NASDAQ: NATR Russell 2000 Index component | |
| Industry | multi-level marketing |
| Founded | 1972 |
| Founder | Gene Hughes Kristine Hughes |
| Headquarters | Lehi, Utah (United States |
Area served | Worldwide |
Key people | Terrence Moorehead (Chief Executive Officer) Gregory L. Probert (Chairman of The Board) |
| Products | Dietary supplements |
| Revenue | US$ 324.705 million (2015) [1] |
| US$ 13.872 million (2015) [1] | |
| US$ 13.656 million (2015) [1] | |
| Total assets | US$ 200.520 million (2015) [1] |
Number of employees | 901 (2015) [1] |
| Subsidiaries | Synergy Worldwide [1] |
| Website | www |
History
Nature's Sunshine was founded in 1972 by Gene and Kristine Hughes, who started encapsulating capsicum in their home kitchen. The company employs a multi-level marketing business model in which their products are primarily sold to the consumer by independent distributors who receive commissions based on their own sales, as well as sign-up bonuses and commissions based upon the sales of any distributors they may have recruited.
The company is divided into various segments in the U.S., including a U.S. Sales division, a Spanish language division, and an International division which oversees the corporation's foreign subsidiaries.
NSP also owns Synergy Worldwide, a multi-level marketing company that also sells nutritional supplements. Products for both companies are manufactured in a production and research facility located in Spanish Fork, Utah.
SEC bribery lawsuit
On July 31, 2009, the company agreed to pay $600,000 in fines after being charged by the SEC with having bribed Brazilian officials with more than $1,000,000 in 2000 and 2001. This was done "so it could import unregistered nutritional products into the country, and then falsified its books to hide the payments."[2][3][4]
References
- "Annual Report of the company for 2015" (PDF).
- Grace Leong. Nature's Sunshine pays $600K to settle bribery charges. Daily Herald, August 1, 2009
- Harvey, Tom (July 31, 2009). "SEC fines Nature's Sunshine for bribing Brazilian officials". The Salt Lake Tribune. Archived from the original on August 4, 2009.
- "Securities and Exchange Commission v Nature's Sunshine Products, Inc., et al. Civil No. 2:09cv0672" (PDF). United States District Court, District Of Utah, Central Division. July 31, 2009. Retrieved December 9, 2016.