The Carlyle Group, the company’s current owner, will retain a significant stake in the company. The deal is expected to close by the end of 2017 and is subject to regulatory approvals and other conditions. Financial terms were not disclosed.
“Nature’s Bounty is a unique consumer health and wellness platform that has built an outstanding reputation for developing distinctive brands and high quality products,” Nate Taylor, member and head of consumer retail at KKR, said in a statement. “We are excited to partner with the management team to grow Nature’s Bounty’s global franchise.”
Headquartered in Ronkonkoma, N.Y., Nature’s Bounty is also known for a number of other health and wellness brands, including Solgar, MET-Rx, Pure Protein, Body Fortress and Puritan’s Pride. The company recently agreed to sell its UK-based Holland & Barrett retail chain to L1 Retail, the retail investment arm of LetterOne.
“We are delighted to move forward with KKR and excited to pursue the significant growth opportunities ahead in a dynamic and expanding global wellness industry,” said Nature’s Bounty president and CEO Steve Cahillane. “We have transformed the business during our partnership with Carlyle, and we look forward to their continued involvement and support.”
Carlyle managing director Elliot Wagner said that his firm was pleased to remain involved with Nature’s Bounty.
“We’ve supported significant investments in new management talent and functional capabilities, strengthened the branded portfolio and optimized the operations, creating a strong foundation for future growth,” Wagner said. “We look forward to our partnership with KKR as we continue to build Nature’s Bounty as a global leader in wellness products.”