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Shakeup at diaper company leaves founders on outside
When three young men start a company that rakes in $25 million its first year in business, they don't necessarily get rich. Sometimes they lose control of what they started.
That seems to be the case for the three founders of VMG Products Ltd, the Vancouver-based manufacturer of Baby's Choice brand disposable diapers.
Although the brand hit local grocery store shelves less than a year ago, sales have been phenomenal. With an estimated 10 percent share of the local disposable diaper market, VMG expects its sales to hit $25 million its first year in business.
But early this month, all three VMG founders, David Pitassi, Timothy Wagner and Walter Klemp, cashed out their interests in the booming company for reasons that remain unclear. As a result, VMG's …