New Leaf Gets New Ownership
by Staff -- Publishers Weekly, 2/3/2003
New Leaf Distributing Company, the New Age wholesaler, has been acquired by Shakti, LLC. Shakti is headed by Santosh and Karuna Krinsky, two well-known figures in the body/mind/spirit world. Alim Thompson, founder of New Leaf, returned as president late last year (News, Jan. 13) and had been expecting a new source of funds to help stabilize the company's finances. The new capital from the acquisition will be used to upgrade the company's systems, including its new online order system, and to increase title selection.
Thompson will still be president of New Leaf and will remain in charge of the company's day-to-day operations.
Santosh Krinsky is the founder of Lotus Press and also launched Lotus Light Enterprises, a wholesaler of natural health and wellness products, and Lotus Brands, a manufacturer of "nature-inspired" products. He is also a longtime New Leaf board member.
