Bansk Group, a private investment firm focused on building distinctive consumer brands has entered into a definitive agreement to acquire Arcadia Consumer Healthcare Inc., a company in the consumer healthcare market for over-the-counter medicines and vitamins and nutritional supplements, Avista Capital Partners, a private equity firm focused exclusively on healthcare.
In 2018, Avista acquired Arcadia’s predecessor, Kramer Laboratories Inc., a company focused on delivering healthcare products to help consumers treat their everyday problems.
Rob Girardi, partner at Avista, said, “Avista invested in Arcadia because we saw the potential for the brands to capitalize on the growing trends in self-care. We are thrilled with the partnership we’ve enjoyed with Arcadia in developing a highly-effective strategic M&A program, investing in innovation, and expanding into new markets beyond traditional OTC. We’re confident that Arcadia will continue to succeed under Bansk’s ownership, particularly with Mike DeBiasi and his team remaining at the helm, and are grateful for the opportunity to support them over these last three years.”
Mike DeBiasi, CEO of Arcadia, added, “Our team has always been motivated to find new opportunities to deliver innovative solutions to everyday healthcare needs, and Avista has been a fantastic partner helping us deliver on this mission. Their deep consumer healthcare expertise, proactive approach to M&A, and collaborative strategy for optimizing portfolio company performance has been integral to our rapid growth. Just as importantly, they have helped us build a strong and sustainable platform for even greater expansion and success moving forward. I want to thank Avista for their tremendous support and the entire Arcadia team for their hard work, passion for building brands, and commitment to drive growth. Arcadia is truly excited about continuing to accelerate this growth with Bansk in the next phase for our company.”
Houlihan Lokey served as the exclusive financial advisor to Arcadia and assisted in structuring and negotiating the transaction on its behalf. Ropes & Gray served as Arcadia’s legal advisor.