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Innovus acquires e-commerce storefront SupplementHunt.com in all-cash deal

Innovus Pharmaceuticals Inc. has acquired all assets of e-commerce storefront SupplementHunt.com in an all-cash transaction.

San Diego-based Innovus reached a deal with 2464573 Ontario Inc. to acquire the online business, which generated about $1.2 million in the past 12 months. Innovus expects the acquired assets will raise about $2 million in revenue during 2019.

Bassam Damaj, president and CEO of Innovus, said the acquisition will help the company diversify its marketing and sales channels. Innovus plans to acquire additional e-commerce stores and assets as well.

Innovus is a pharmaceutical company that engages in commercializing, licensing and developing nonprescription medicine and consumer care products in the U.S.