A New Jersey company that makes protein powders and other muscle-building mixes has been sold out of bankruptcy for $10.1 million, the Wall Street Journal reported today. An affiliate of the U.K.-based Body Temple Ltd. won a heated auction for the nutritional supplement company built by ex-professional bodybuilder Rich Gaspari. The company, Gaspari Nutrition Inc., filed for bankruptcy on Oct. 14 after a slump in demand for its products, which sell online and at retailers like Vitamin Shoppe. The deal closed on Dec. 23, according to documents filed in U.S. Bankruptcy Court in Trenton, N.J. Gaspari no longer owns the company but is expected to stay on staff. Annual sales for Gaspari Nutrition’s muscle-building formulas like “Aminolast,” “Super Pump,” and “MyoFusion Advanced” have fallen from a peak of $78 million in 2011, according to earlier court papers.
