Swander Pace Capital said Nov. 29 that it acquired Nutritional Medicinals LLC. Financial terms weren’t announced. Known as Functional Formularies, the Centerville, Ohio company provides organic, whole food, shelf-stable feeding tube formulas.
CENTERVILLE, Ohio–(BUSINESS WIRE)–Swander Pace Capital, a leading private equity firm focused on consumer companies, today announced that it has acquired Nutritional Medicinals, LLC (the “Company” or “Functional Formularies”) and its market-leading products Liquid Hope and Nourish.
Founded in 2006 by professional chef and nutrition expert Robin Gentry McGee, Functional Formularies is the leading provider of organic, whole food, shelf-stable feeding tube formulas. Ms. Gentry McGee created the Company after searching unsuccessfully for natural alternatives to traditional feeding tube formulas to help her father when he was faced with life-threatening health issues. The Company offers unique, organic, and whole food alternatives to traditional feeding tube formulas. Liquid Hopeand Nourish are nutritionally complete, plant-based, and USDA-certified organic. The Company offers its products to retail customers online and to institutional customers in hospital and long-term care settings.
“As demand for organic products continues to surge in the vast feeding tube market, consumers, physicians, and healthcare facilities are realizing the amazing healing power of an all-natural, whole food, plant-based diet,” said Mo Stout, managing director at Swander Pace Capital.
“Functional Formularies is the pioneer in this category, and we couldn’t be more excited to work alongside Robin and her talented team to build upon the Company’s inspiring legacy amid growing consumer awareness of food as medicine,” added Mark Poff, managing director at Swander Pace Capital.
“What began as a labor of love has drawn attention to a vital issue in healthcare,” said Ms. Gentry McGee. “While traditional approaches have tended to minimize the connection between diet and healing, we believe that food is a critical part of the recovery process and that individuals at their most vulnerable times crave the benefits of a nutrient-rich, whole food-based diet free from added chemicals and sugars. Swander Pace is the ideal partner to help us achieve our next phase of growth. They have a long history of working with high growth organic food companies and giving them the resources they need to succeed,” Ms. Gentry McGee added.
The transaction marks Swander Pace’s first investment in the enteral nutrition space, a market in which the firm anticipates significant long-term growth. The Company will be led by healthcare industry veteran Marc Gibeley, who will serve as CEO as the Company seeks to grow market share and distribution channels, while continuing to make a positive impact on people’s lives.
About Swander Pace
Swander Pace Capital (SPC) is a private equity firm that invests in companies that are integral to consumers’ lives. SPC’s consumer industry expertise informs the firm’s strategic approach and adds value through access to its proven SPC Playbook, senior team, and extensive network. The firm partners with management teams to help build companies to their full potential. SPC invests in businesses across three domains of consumer lifestyles: Food + Beverage, Body + Wellness, and Home + Family. With offices in San Francisco, New Jersey, and Toronto, SPC has invested in more than 50 companies and raised cumulative equity commitments of approximately $1.8 billion since 1996. For more information, visit www.spcap.com.
About Functional Formularies
Functional Formularies was founded in 2006 by Robin Gentry McGee who, over the past several decades, has developed a vast knowledge of the food as medicine model. Today, the privately held company serves thousands of customers, hospital formularies, and home health care organizations with Liquid Hope for adults and older children and Nourish for pediatrics, throughout the U.S., Canada, Australia, the U.K. and many other countries. To learn more about Functional Formularies products, visit www.functionalformularies.com.