Ronkonkoma, NY — Global investment firm KKR is buying a majority stake in health and wellness product leader The Nature’s Bounty Co. from The Carlyle Group.
Even though The Carlyle Group is selling most of its control of Nature’s Bounty it still has a financial hand in the company. All transaction details are still under wraps, but a report in The PE Hub Network valued the deal at about $3 billion.
The 145-year-old Nature’s Bounty sold its UK-based retail chain Holland & Barrett late last month to L1 Retail.
“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,” said Nate Taylor, head of consumer retail at KKR, in a release.
Nature’s Bounty brands include the flagship Nature’s Bounty as well as Sundown Naturals, Solgar, Osteo Bi-Flex, MET-Rx, Pure Protein, Body Fortress, Puritan’s Pride and Organic Dr.
“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,” said Steve Cahillane, president and ceo of The Nature’s Bounty Co.
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.”
(Published on WholeFoods Magazine Online, 7/24/17)