 | |
| Company type | Subsidiary |
|---|---|
| Founded | 1994; 31 years ago (1994) |
| Headquarters | Boca Raton, Florida, United States |
| Products | Health foods, nutritional supplements, vitamins, beverages, herbs; bath, baby, pet and beauty products[1] |
| Parent | Kroger |
| Website | www |
Vitacost.com, Inc. is an American e-commerce company based inBoca Raton, Florida, that sellsvitamins, supplements andorganic grocery products.[2] The company was bought byKroger in 2014.[3] Vitacost was inducted intoInc Magazine's "Inc. 500 Lifetime Hall of Fame," in 2006 as one of the US's 500 fastest-growing privately held businesses for five consecutive years (2001–2005).[4]
Vitacost began operations in 1994 as a catalog retailer of third-partyvitamins andsupplements under the name Nature's Wealth Company by its founder Wayne Gorsek.[5]
In 1999, the company launched Vitacost.com and introduced proprietary vitamins and supplements, which has since expanded to include food, beauty products and sports nutrition.[2]
The company completed construction of amanufacturing facility located inLexington, North Carolina, in 2008.[6] Effective September 1, 2012, Vitacost agreed to lease its manufacturing facilities to a third-party provider.
On September 23, 2009, Vitacost went public.[7][8]
Vitacost shares traded on the NASDAQ were suspended on December 7, 2010, for financials not adding up. By the time the stock was reinstated by NASDAQ, the stock had lost most of its value with investors losing almost all of their investment. ("Gebben").[9]
During 2010, the company expanded and upgraded its West Coast distribution facility located inLas Vegas, Nevada. The Company began a similar project for its east coast distribution center, located inLexington, North Carolina in the spring of 2010, with the building construction completed in the first quarter of 2011.[citation needed]
Gorsek was found guilty of securities fraud on January 28, 2003. The SEC Commission announced on this day that the Honorable Jeanne E. Scott, U.S. District Judge for the Central District of Illinois, has found two former brokers and stock promoters, Wayne F. Gorsek ("Gorsek") and Lyndell F. Parks ("Parks"), liable for violating the antifraud provisions of the federal securities laws and has enjoined them from further violations of Sections 17(a) and (b) of the Securities Act of 1933 ("Securities Act"), Section 10(b) of the Securities Exchange Act of 1934 ("Exchange Act") and Exchange Act Rule 10b-5. Judge Scott also imposed additional sanctions against defendants Gorsek, Parks and P. Brenden Gebben.[citation needed]
In October 2012, Vitacost.com launched a cruelty-free specialty store showcasing beauty and personal care products that are independently certified by theLeaping Bunny Program, which is operated by theCoalition for Consumer Information on Cosmetics.[5][10]
In 2013, Vitacost released several new product lines, including a new sports nutrition line, ARO: Black Series,[11] which includes pre- and post-workout formulas, protein powders, flavoredglutamine,creatine andbranched-chain amino acids.
Kroger announced in July 2014 that it would purchase Vitacost.com for $280 million.[3] The acquisition was completed in August 2014.[12]
In 2017, the company received two awards from theConsumerLab.com Survey for Top-rated Supplement Brands on Overall Consumer Satisfaction and Top-rated Supplement Merchants on Overall Consumer Satisfaction.[13]