The Vitamin Shoppe to be acquired by Kingswood, PIP
Kingswood Capital Management and Performance Investment Partners have entered into a definitive agreement under which an affiliate will acquire The Vitamin Shoppe from Franchise Group.
The transaction, which is expected to close later in the second quarter of this year, is subject to customary closing conditions and regulatory approvals.
Headquartered in Secaucus, N.J., The Vitamin Shoppe is a global, omnichannel specialty retail and wellness lifestyle company.
[Read more: The Vitamin Shoppe digitizes in-store experience via Jumpmind]
The Vitamin Shoppe offers a comprehensive assortment of nutritional solutions, including vitamins, minerals, sports nutrition, specialty supplements, herbs, homeopathic remedies and green living products. In addition to carrying products from approximately 700 national brand partners, The Vitamin Shoppe offers products from its owned brands, including The Vitamin Shoppe, Vthrive The Vitamin Shoppe, BodyTech, BodyTech Elite, plnt, ProBioCare and True Athlete. The company conducts business through more than 650 company-operated retail stores under The Vitamin Shoppe and Super Supplements banners and via its website.
Kingswood Partner Michael Niegsch and PIP Partner Mark Genender said, "We are excited to partner with The Vitamin Shoppe team and help them build upon the success the business has enjoyed over the last forty-eight years. We plan to make significant investments in the company’s third-party brand relationships, research and development across The Vitamin Shoppe’s owned proprietary brand portfolio, upgrades to the store fleet, and improvements to the omni-channel digital platform to deliver the best possible experience to customers. Further, The Vitamin Shoppe is the perfect partner for emerging and growing brands that can benefit from access to over 650 retail doors and The Vitamin Shoppe’s millions of loyalty members at a time in history when it is more important than ever for these brands to demonstrate success and traction in physical retail as well as online.”
[Read more: The Vitamin Shoppe supports Team RWB via Altered Strength from BodyTech Elite brand]
Jefferies is serving as exclusive financial advisor to Kingswood and PIP, and McDermott Will & Emery and Sidley Austin are serving as legal counsel. Ducera Partners is serving as investment banker and Kirkland & Ellis is serving as legal counsel to FRG.