Two non-public fairness corporations, Kingswood Capital Administration and Efficiency Funding Companions, have entered right into a definitive settlement to accumulate The Vitamin Shoppe, which sells nutritional vitamins, dietary dietary supplements and wellness merchandise, from Franchise Group Inc.
Particulars of the transaction, which is anticipated to shut later within the second quarter of this 12 months, weren’t disclosed.
The Vitamin Shoppe operates greater than 650 retail shops beneath The Vitamin Shoppe and Tremendous Dietary supplements banners, and an e-commerce web site. A lot of the assortment consists of proprietary manufacturers, particularly The Vitamin Shoppe, Vthrive The Vitamin Shoppe, BodyTech, BodyTech Elite, plnt, ProBioCare and True Athlete. Final fall, The Vitamin Shoppe rolled out testosterone alternative remedy prescriptions to its telehealth platform Complete Well being Rx, which first launched in Could 2024 with weight reduction medication like Ozempic.
In a joint assertion Wednesday, Kingswood companion Michael Niegsch and PIP Accomplice Mark Genender stated: “We plan to make vital investments within the firm’s third-party model relationships, analysis and improvement throughout The Vitamin Shoppe’s owned proprietary model portfolio, upgrades to the shop fleet, and enhancements to the omni-channel digital platform to ship the absolute best expertise to prospects. Additional, The Vitamin Shoppe is the proper companion for rising and rising manufacturers that may profit from entry to over 650 retail doorways and The Vitamin Shoppe’s tens of millions of loyalty members at a time in historical past when it’s extra necessary than ever for these manufacturers to exhibit success and traction in bodily retail in addition to on-line.”
Kingswood targets firms within the providers, client, industrials and distribution sectors. It usually invests between $50 million and $150 million, with the capability for bigger investments by co-investment alternatives. Current investments have been Mountain Gear Co-op, a Canadian outside retailer, by a court-supervised course of, and the Save Mart grocery chain. Efficiency Funding Companions focuses on investing in consumer-facing companies.
The Franchise Group filed for filed for Chapter 11 chapter safety final November and has scheduled a listening to on Could 12 in search of court docket affirmation of its reorganization plan. Apart from The Vitamin Shoppe, the Franchise Group’s portfolio consists of Pet Provides Plus, American Freight, Badcock Residence Furnishings, Buddy’s Residence Furnishings and Sylvan Studying.
