Kingswood Capital Management and Performance Investment Partners (PIP) announced that they have entered into a definitive agreement under which an affiliate will acquire The Vitamin Shoppe (a pure-play omnichannel retailer of vitamins and nutritional supplements) from Franchise Group (FRG). The deal is expected to close later in the second quarter of this year and is subject to customary closing conditions.
Based in Secaucus, New Jersey, The Vitamin Shoppe is a global omnichannel specialty retail and wellness lifestyle company that aims to provide customers with the most trusted products, guidance, and services to support them on their journeys of lifelong wellness.
The company provides comprehensive nutritional solutions, including vitamins, minerals, sports nutrition, specialty supplements, herbs, homeopathic remedies, and green living products. In addition to carrying products from about 700 national brand partners,
The Vitamin Shoppe provides products from its owned proprietary brands, including The Vitamin Shoppe, Vthrive, BodyTech, BodyTech Elite, plnt, ProBioCare, and True Athlete. And the company conducts business via 650+ company-operated retail stores under The Vitamin Shoppe and Super Supplements banners and via its website.
Advisors: 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.
KEY QUOTE:
“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.”
• ⁃ Kingswood Partner Michael Niegsch and PIP Partner Mark Genender
