TSG Consumer Partners acquired supplements retailer LuckyVitamin from GNC Holdings Inc. (NYSE: GNC). The private equity firm is partnering with the target's founder Sam Wolf on the deal.
LuckyVitamin sells more than 40,000 branded and private label vitamins, nutritional products, personal care and organic snacks through its website. The Conshohocken, Pennsylvania-based company was originally founded in 1956 as a neighborhood pharmacy and launched LuckyVitamin.com in 2005.
TSG is a private equity firm with offices in San Francisco and New York that solely focuses on the consumer sector including: food and beverage, restaurants, personal care and apparel. The firm has invested in beer producer Brewdog; jewelry company Charming Charlie; and fashion retailer Revolve. Founded in 1989, and has about $5 billion in assets under management. "They are an ideal partner and I am confident their strategic support will be invaluable as we drive the accelerated growth of our business,” said LuckyVitamin founder Wolf.
Imperial Capital advised TSG. Financial terms were not disclosed.
The middle-market has seen multiple deals involving nutritional wellness products and vitamin producers such as: HGGC’s buying of Nutraceutical International Corp. (Nasdaq: NUTR) for $446 million; Swander Pace Capital’s purchase of Swanson Health Products’ vitamin portfolio; and The Clorox Co.’s (NYSE: CLX) acquisition of probiotics maker Renew Life Holdings Corp.