Vitamin Shoppe, a specialty retailer of nutritional products, today announced that it has purchased FDC Vitamins, (DBA Nutri-Force Nutrition), a contract manufacturer of vitamins, minerals and supplements from MBF Healthcare Partners. The purchase price is approximately $85 million which includes a $5 million earn out based on 2014 financial performance.
FDC Vitamins provides custom manufacturing, private label and re-packaging services within its 215,000 square foot cGMP (current good manufacturing practice) certified facility. The company produces private label nutritional supplements and vitamins as well as developing and marketing products under its own labels Nutri-Force Sports and Betancourt. The company has expertise in production of soft gels, tablets, powders and capsules. The company is based in Miami Lakes, FL (www.fdcvitamins.com).
“I am very pleased to announce plans to expand our sourcing capabilities with the strategic acquisition of Nutri-Force. The company is attractive to us for a number of key reasons that fit with our long-term needs and include: a high-quality management team, product development expertise and capability, and the ability to produce and ship from one facility four key form factors – soft gels, tablets, powders and capsules,” said Tony Truesdale, the Vitamin Shoppe’s CEO. “Furthermore, Nutri-Force is an industry leading contract manufacturer with thriving partnerships that we intend to fully support.”
Vitamin Shoppe is a multi-channel specialty retailer of nutritional products. In its stores and on its website, the company sells vitamins, minerals, specialty supplements, herbs, sports nutrition, homeopathic remedies, green living products, and beauty aids. In addition to offering 900 national brand products, the Vitamin Shoppe also exclusively carries products under The Vitamin Shoppe®, BodyTech®, True Athlete®, My Trition®, plnt™, ProBioCare™ and Next Step™ brands. The Vitamin Shoppe conducts business through more than 660 company-operated retail stores under The Vitamin Shoppe, Super Supplements and Vitapath retail banners, and primarily through its various websites. The company is based in North Bergen, NJ (www.VitaminShoppe.com and www.supersup.com).
MBF Healthcare Partners invests from $10 million to $50 million in healthcare sector companies with enterprise values between $25 million and $100 million, having an EBITDA between $5 million and $20 million, and annual revenues between $5 million and $25 million. The firm targets deal sizes of up to $300 million and also pursues larger transactions through additional co-investments. It invests in the form of equity and seeks to acquire majority stakes in its portfolio companies. The firm was founded in August 2005 and is based in Coral Gables, FL (www.mbfhp.com).
2014 PEPD • Private Equity’s Leading News Magazine • 6-9-14