07.24.17
The Carlyle Group is selling majority control of The Nature’s Bounty Co., a global manufacturer, marketer and distributor of health and wellness products, toglobal investment firm KKR. Following the transaction, which is expected to close by the end of 2017 and is subject to customary regulatory approvals and other closing conditions, KKR will be the majority owner of Nature’s Bounty while Carlyle will retain a significant stake in the company. Financial terms were not disclosed.
This announcement follows Nature’s Bounty’s recent agreement to sell its U.K.-based Holland & Barrett retail chain to L1 Retail, the retail investment arm of LetterOne. KKR is acquiring a majority stake in the remaining business of Nature’s Bounty, known as the Consumer Products Group (CPG).
Headquartered in Ronkonkoma, NY, Nature’s Bounty’s CPG business has developed many leading health and wellness brands, including Nature’s Bounty, Sundown Naturals, Solgar, Osteo Bi-Flex, MET-Rx, Pure Protein, Body Fortress, Puritan’s Pride and Organic Dr., among others.
Nate Taylor, member & head of consumer retail at KKR, said: “Nature’s Bounty is a unique consumer health and wellness platform that has built an outstanding reputation for developing distinctive brands and high quality products. We are excited to partner with the management team to grow Nature's Bounty's global franchise.”
Steve Cahillane, president & CEO, The Nature’s Bounty Co., said, “We are delighted to move forward with KKR and excited to pursue the significant growth opportunities ahead in a dynamic and expanding global wellness industry. We have transformed the business during our partnership with Carlyle, and we look forward to their continued involvement and support.”
Elliot Wagner, managing director of The Carlyle Group, said, “While we close one chapter in our ownership of Nature’s Bounty, we are pleased to remain part of its future. We’ve supported significant investments in new management talent and functional capabilities, strengthened the branded portfolio and optimized the operations, creating a strong foundation for future growth. We look forward to our partnership with KKR as we continue to build Nature’s Bounty as a global leader in wellness products.”
Equity capital for the transaction comes primarily from KKR’s Americas XII fund. Carlyle invested in Nature’s Bounty in 2010 via Carlyle Partners V, a $13.7 billion U.S. buyout fund, and Carlyle Europe Partners III, a €5.4 billion European buyout fund.
Carlyle was advised in the transaction by Goldman Sachs, Houlihan Lokey, UBS Investment Bank, Latham & Watkins, PricewaterhouseCoopers and The Boston Consulting Group. KKR was advised in the transaction by Simpson Thacher & Bartlett and Deloitte.
This announcement follows Nature’s Bounty’s recent agreement to sell its U.K.-based Holland & Barrett retail chain to L1 Retail, the retail investment arm of LetterOne. KKR is acquiring a majority stake in the remaining business of Nature’s Bounty, known as the Consumer Products Group (CPG).
Headquartered in Ronkonkoma, NY, Nature’s Bounty’s CPG business has developed many leading health and wellness brands, including Nature’s Bounty, Sundown Naturals, Solgar, Osteo Bi-Flex, MET-Rx, Pure Protein, Body Fortress, Puritan’s Pride and Organic Dr., among others.
Nate Taylor, member & head of consumer retail at KKR, said: “Nature’s Bounty is a unique consumer health and wellness platform that has built an outstanding reputation for developing distinctive brands and high quality products. We are excited to partner with the management team to grow Nature's Bounty's global franchise.”
Steve Cahillane, president & CEO, The Nature’s Bounty Co., said, “We are delighted to move forward with KKR and excited to pursue the significant growth opportunities ahead in a dynamic and expanding global wellness industry. We have transformed the business during our partnership with Carlyle, and we look forward to their continued involvement and support.”
Elliot Wagner, managing director of The Carlyle Group, said, “While we close one chapter in our ownership of Nature’s Bounty, we are pleased to remain part of its future. We’ve supported significant investments in new management talent and functional capabilities, strengthened the branded portfolio and optimized the operations, creating a strong foundation for future growth. We look forward to our partnership with KKR as we continue to build Nature’s Bounty as a global leader in wellness products.”
Equity capital for the transaction comes primarily from KKR’s Americas XII fund. Carlyle invested in Nature’s Bounty in 2010 via Carlyle Partners V, a $13.7 billion U.S. buyout fund, and Carlyle Europe Partners III, a €5.4 billion European buyout fund.
Carlyle was advised in the transaction by Goldman Sachs, Houlihan Lokey, UBS Investment Bank, Latham & Watkins, PricewaterhouseCoopers and The Boston Consulting Group. KKR was advised in the transaction by Simpson Thacher & Bartlett and Deloitte.
