San Francisco, CA—Gryphon Investors has signed an agreement to acquire Metagenics, Inc. from Alticor Inc., according to a press release. This is Gryphon’s third investment in consumer health products, and first investment in the nutritional health category.
“We are delighted to partner with the team at Gryphon as we plan for long-term sustainable growth for the Metagenics brand around the world,” said Gryphon CEO Brian Eck. “Gryphon brings a truly differentiated set of capabilities as a partner, and their investment will allow us to invest for the future, both organically and through strategic acquisitions.”
Gryphon will invest in the company’s global mission of providing effective dietary supplements recommended by healthcare practitioners. Eck will continue to lead the management team. Gryphon Executive Advisor Steve LaMonte will become Executive Chairman of the Metagenics Board, and three other Gryphon employees will join the board: Operating Partner Mike Ferry, Deal Partner Matt Farron, and Managing Director Ryan Fagan.
“We’re happy to partner with a company that operates at the gold standard of scientific credibility, quality, innovation, and sourcing transparency,” Fagan said. “Both healthcare practitioners and their patients are increasingly focused on making proactive healthy lifestyle choices, and nutrition is a necessary part of that effort. Gryphon has been searching for the right platform to invest behind this movement for several years and we will continue to actively search for similar opportunities—potential acquisitions for Metagenics as well as incremental independent platforms in the health and wellness category.”
Financial terms of the transaction were not disclosed. The transaction is expected to close in the fourth quarter of 2021. Jefferies LLC and Solomon Partners are serving as financial advisors to Gryphon. Nomura Securities International, Inc. and William Hood & Company are serving as co-lead financial advisors to Alticor. Kirkland & Ellis LLP is acting as legal advisor to Gryphon, and Bryan Cave Leighton Paisner LLP is acting as legal advisor to Alticor.