Accretive Capital Still Battling Nutrastar International
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Now owning 12.49%, Accretive Capital [link to Accretive's letter to MCG Capital earlier this year] has upped its stake in Nutrastar International for the first time in a year. The fund has been active since Dec. 2012.
Accretive's invovlement started with a purchase of Series A Preferred Stock in Nutrastar from ARC China in a private transaction.
Nutrastar is a small, $10 milion market cap, grower and producer of Cordyceps Militaris, or Chinese Golden Grass in China. The stock is down 19% over the last three months and down 44% in three years.
The latest is that Accretive will continue to have discussions with the company about prospective acquirers, as well as strategic plans, strategy, assets, business, financial condition, operations, and capital structure.
Yet, it operates in a tough business and in an tough economy. You're really going to need Accretive to do the legwork to get the story told about Nutrastar. Cheap valuation or not, it's a tough sell.