North Castle Partners said June 15 it has sold Doctor’s Best Inc to Xiamen Kingdomway Group Co. Financial terms weren’t announced. Irvine, California-based Doctor’s best makes and distributes nutritional supplements.
GREENWICH, Conn. – June 15, 2016 – North Castle Partners and its co-investors today announced the sale of Doctor’s Best, Inc. (“Doctor’s Best” or “DRB”), a leading marketer and distributor of science-based branded nutritional supplements, to Xiamen Kingdomway Group Co. (SHE: 002626). For North Castle Partners, a leading private equity firm focused on consumer businesses that promote Healthy, Active and Sustainable Living, the exit concludes another successful partnership in the Nutritional Supplements Industry. The terms of the transaction were not disclosed.
“Our investment in Doctor’s Best illustrates North Castle’s ability, as a focused fund, to leverage knowledge, network and expertise to provide a company with growth opportunities and set a path for ongoing success,” said Chip Baird, CEO and Founder of North Castle Partners.
“With nearly two decades of experience in the Healthy, Active and Sustainable Living market, our extensive network of relationships in this industry, coupled with our experience in and knowledge of the category, provided insights that we believe helped Doctor’s Best develop into a strategically important part of Kingdomway’s future,” added Alison Minter, Managing Director of North Castle Partners.
Gale Bensussen, CEO Doctor’s Best, said, “My relationship with North Castle dates back to North Castle’s inception. From my roles as a North Castle advisor, member of the management team of a former NCP portfolio company and several positions as a member of the Boards of Directors of North Castle companies, I understood the resources and support I would have when I became the CEO of Doctor’s Best. I believe our partnership with North Castle and the access to its resources had a significant positive influence on our company.”
“Our partnership with Gale and the Doctor’s Best team is the most recent example of our vision of realizing the power of values-based partnerships and experienced operating resources to help entrepreneurs take their companies to the next stage of their development – what we call ‘Full Potential Partnerships’,” concluded Chip Baird, CEO and Founder of North Castle Partners.
About North Castle Partners
North Castle Partners is a leading private equity firm focused on investments in consumer-driven product and service businesses that promote Healthy, Active, and Sustainable Living. North Castle is a hands-on, value-added investor in high-growth, middle market companies in the (i)
beauty & personal care, (ii) consumer health, (iii) fitness, recreation & sports, (iv) home & leisure and (v) nutrition sectors, among others. North Castle’s current portfolio includes such well-known brands as Curves International/Jenny Craig, Barry’s Bootcamp, Palladio Beauty Group, Mineral Fusion, Red Door Spas, Sprout Organics, SmartyPants, Brooklyn Boulders, Ibex Outdoor Clothing, and Turnbridge. Prior portfolio company holdings include Atkins Nutritionals, Contigo, Octane Fitness, Cascade Helmets, Bora-Bora Organic Foods, gloProfessional, Equinox Fitness, EAS, Enzymatic Therapy, CRC Health Group, Doctor’s Dermatologic Formula, Naked Juice Company, Flatout Flatbread, and Avalon Organics / Alba Botanicals. North Castle and its operating executives and advisors partner with management to bring a wide range of strategic and operational capabilities to build world-class companies by unlocking the exponential power of Full Potential Partnerships. North Castle is headquartered in Greenwich, CT. For more information, visit www.northcastlepartners.com.
About Doctor’s Best, Inc.
Irvine, CA-based Doctor’s Best, Inc., manufactures and distributes dietary supplements. Doctor’s Best is known for a broad line of premium products that are scientifically based on sound research and manufactured utilizing proven quality ingredients. For more information, visit www.drbvitamins.com.
About Xiamen Kingdomway Group Co.
Xiamen Kingdomway Group Company (KDW) was founded in 1997 as a key High-tech Enterprise of the National Torch Project and was publicly listed on the Shenzhen Stock Exchange in 2011 under the ticker 002626. With over 1,500 employees, KDW is proudly recognized as one of the first high tech enterprises in Xiamen, China. KDW is a fully integrated global nutrition company that strives to be a market leader in both quality and volume for the ingredients it manufactures. KDW currently provides Coenzyme Q10, Microalgea DHA, ARA, Vitamin A, Vitamin D3 and Beta-Carotene with many more products in a well-established research and development process. KDW has a global presence with retail stores in Singapore, sales outlets throughout Southeast Asia, a joint venture in Japan and wholly owned subsidiaries in the United States, including Vit-Best Nutrition a contract manufacturer of nutritional supplements and with this most recent acquisition, Doctor’s Best.