Wind Point Partners has acquired FoodScience, a maker of nutritional supplements for humans and pets.
FoodScience’s branded and private label nutritional supplements are available as chews, capsules, liquids, powders, soft gels, and tablets in a variety of packaging options including bottles, pouches, jars, droppers and sprayers.
Company-owned brand names include DaVinci, VetriScience, and Pet Naturals. The company sells its products through a combination of practitioner channels, direct-to-consumer e-commerce, and retail distribution.
Vermont-headquartered and family-owned FoodScience was founded in 1973 by Guido and Maria Orlandi. Wind Point is partnering on this transaction with CEO Sharon Rossi, who joined the company in 2017, and other members of FoodScience’s management team.
“Wind Point’s investment team understands consumer goods, the pet industry and the supplement industry, and is experienced in both retail and e-commerce channels,” said Ms. Rossi. “FoodScience and Wind Point share values such as commitment to community and affirming corporate culture. I am optimistic about this investment; it is a win for our customers, employees and Vermont neighbors.”
Prior to joining FoodScience in 2017, Ms. Rossi was the chief customer officer at publicly traded beauty products company Coty, the general manager of the consumer lifestyle division of Dutch multinational Philips, and senior marketing executive at UK multinational Unilever.
“FoodScience is a very strong competitor in the human supplements market with its long history of quality, efficacy and safety,” said Paul Peterson, a managing director at Wind Point. “It is a pioneer in the animal health industry, formulating animal supplements and treats. Amidst changing consumer buying behavior and elevated focus on health and wellness, FoodScience is well-positioned to capitalize on the acceleration of eCommerce and growth in human and pet nutritional supplements.”
Advising Wind Point on this transaction were executives Katie Doyle, the former CEO of Swanson Health Products and president of Abbott Nutrition US; Chris Hornung, the former CEO of Pacific Cycle, a past Wind Point portfolio company; and Bob Shipley, the former CEO of FoodScience from 2014 to 2017 and the former CEO of Hartz Mountain. These three executives have all agreed to join FoodScience’s board of directors with Ms. Doyle as the chairperson.
Chicago-based Wind Point invests from $50 million to $100 million in companies with EBITDA of at least $10 million. Industries of interest include business services, consumer products and industrial products. The buy of FoodScience is Wind Point’s fifth platform acquisition of a family or entrepreneur-owned business in the last 18 months.
Wind Point is currently investing out of Wind Point Partners IX which closed in February 2021 with $1.5 billion of capital. Fund IX is the largest fund ever raised by Wind Point.
© 2021 Private Equity Professional | March 23, 2021