RONKONKOMA, N.Y., Feb. 2, 2016 /PRNewswire/ -- NBTY, Inc., a global leader in vitamins, nutritional supplements and sports and active nutrition, today announced that it has entered into a definitive agreement to sell its US retail business, Vitamin World ®, to Centre Lane Partners. The transaction is expected to close by mid-February 2016. The deal will enable Vitamin World to operate as a stand-alone retail business.
A leader in the wellness industry, NBTY is the owner of several of the most recognized brands in the marketplace, including: Nature's Bounty ®, Sundown Naturals ®, Osteo Bi-Flex ®, Solgar®, MET-Rx ®, Pure Protein ®, Body Fortress®, Puritan's Pride®, Holland & Barrett® and many others.
Centre Lane Partners is a private investment firm focused on making investments in North American middle market companies across a broad range of industries. Centre Lane targets companies with revenues between $20 and $500 million that have leading market positions and sustainable competitive advantages in their respective niches.
"Vitamin World has a long history of meeting its customers' wellness needs. For some time, it has been clear that it should be a stand-alone business with the right investment and resources tailored to a retail operation," said Steve Cahillane, President and CEO of NBTY. "With the shift of NBTY's focus in our US business to investing in and building our core brands, this sale of Vitamin World to Centre Lane Partners will ensure Vitamin World has the right investment and focus on its future as a stand-alone retail business," Cahillane added.
Mayank Singh, a Managing Director at Centre Lane added the following, "We are enthusiastic about working with the Vitamin World management team and employees to position the business for long term growth and success. They have done a terrific job of making Vitamin World one of the leading specialty retailers of vitamins, minerals and supplements and we want to build on that foundation."
"The Vitamin World employees are dedicated to helping our customers meet their wellness goals," said Sue Gove, President of Vitamin World. "We are excited to begin this new journey with Centre Lane Partners and to continue giving Vitamin World's loyal customers the best products and service in the industry."
Vitamin World began in 1976 with a kiosk in Williamsville, New York. Today, there are 380 Vitamin World stores in the United States, Guam, the Virgin Islands and Puerto Rico.
NBTY is a portfolio company of The Carlyle Group.
Latham & Watkins LLP acted as legal advisor and Lazard Middle Market LLC as the financial advisor to NBTY in connection with the transaction. Katten Muchin Rosenman acted as legal advisor and Alvarez & Marsal as the financial advisor to Centre Lane Partners in connection with the transaction.
About Centre Lane Partners
Centre Lane Partners is a private investment firm focused on making equity and debt, control and non-control, investments in North American middle market companies. Centre Lane Partners targets companies with revenues between $20 and $500 million that have leading market positions and sustainable competitive advantages in their respective niches. Industries targeted for investment are broad and diverse with no industry excluded from our consideration.
About Vitamin World®
At Vitamin World®, we believe that nutrition starts at the source. We travel the world to find the freshest, purest, and potent health ingredients in order to craft the highest quality vitamins and supplements for our customers. And our high quality doesn't just apply to our products; it applies to our people. Our staff of trained and friendly Associates in our more than 380 stores nationwide can help guide you on your journey to becoming your best self. Whether you're a wellness novice or a health enthusiast, Vitamin World® is committed to bringing quality ingredients, products and people, from the source to you. For more information please visit www.vitaminworld.com.
NBTY has enriched the lives of consumers around the world by introducing innovative products and solutions to the health and wellness marketplace for more than 40 years. Our ongoing mission to deliver the highest quality nutritional supplements and wellness products has resulted in an extensive portfolio of well-known and trusted brands, including Nature's Bounty®, Sundown Naturals®, Osteo Bi-Flex®, Solgar ®, Balance Bar®, MET-Rx®, Pure Protein®, Body Fortress®, Puritan's Pride®, Vitamin World®, Holland & Barrett®, De Tuinen® and many others. As a leading global manufacturer, marketer, distributor and retailer of more than 20,000 vitamins and nutritional supplements, NBTY is committed to supporting wellness by creating products that consumers want and making them easily available anywhere they shop. Learn more about our wellness vision and industry-leading products at www.nbty.com.
Media Contact NBTY:
Andrea Staub: +1 (631) 200-7459
SOURCE NBTY, Inc.