SALT LAKE CITY, July 30, 2018 /PRNewswire/ -- Zarbee's Naturals, the leader in creating safe and effective over-the-counter products that parents feel good about giving to their families, today announced that it has agreed to be acquired by Johnson & Johnson Consumer Inc. Zarbee's Naturals is majority owned by the Growth Fund of L Catterton in partnership with various minority owners including Sorenson Capital. The transaction is expected to close during the third quarter of 2018.
Zarbee's Naturals was founded in 2008, driven by a pediatrician's quest for a drug-free children's cough syrup. Over the last decade, Zarbee's Naturals has grown into a broad-based health and wellness brand and has disrupted the cough, sleep, immune support and vitamin categories with its portfolio of natural, better-for-you products. The company has established itself as the number one pediatrician-recommended cough syrup brand for children 10 and under and continues to focus on creating wholesome wellness products for the entire family.
"We are thrilled by the opportunity to further accelerate our growth as part of Johnson & Johnson Consumer," said Bret Furio, Chief Executive Officer of Zarbee's Naturals. "Over the past 10 years, Zarbee's has attracted a passionate and loyal consumer following by using simple, natural ingredients and creating effective products for both kids and adults. We are deeply grateful for L Catterton's partnership and support over the last seven years and for their support in helping us scale and strengthen our business, which enabled us to achieve this exciting milestone with Johnson & Johnson Consumer. I am confident that Johnson & Johnson Consumer will be a great home for both our brand and our people and we will continue to grow and succeed as we enter this exciting new chapter."
"When we partnered with Zarbee's Naturals in 2011, we saw a great opportunity for the company to essentially build a new consumer category by becoming the leading, trusted, natural health & wellness OTC brand," said Scott Dahnke, Global Co-CEO of L Catterton. "We are proud of the performance the company has achieved and of the remarkable platform that has been created under the leadership of Bret and his management team. This partnership drove roughly 15-fold organic revenue growth over the last seven years and generated exceptional returns for our investors. This transaction represents the culmination of a terrific partnership with Zarbee's Naturals and a successful investment for L Catterton, and we are confident Zarbee's Naturals will continue to grow and thrive for years to come as part of the Johnson & Johnson Consumer family of brands."
Houlihan Lokey is acting as financial advisor and Finn Dixon Herling is acting as legal advisor to Zarbee's Naturals.
About Zarbee's Naturals
Founded in 2008, Zarbee's Naturals manufactures a complete line of "family-safe" health and wellness products that are free from drugs, alcohol, gluten and dyes. Recommended by pediatricians nationwide, Zarbee's products are formulated with a special blend of natural actives and fortified with immune-supporting vitamins. Zarbee's continues to innovate with doctor-formulated and recommended products for the entire family, including vitamins, cough, and immune support products.
About L Catterton
With over $15 billion of equity capital across six fund strategies in 17 offices globally, L Catterton is the largest consumer-focused private equity firm in the world. L Catterton's team of more than 150 investment and operating professionals partners with management teams around the world to implement strategic plans to foster growth, leveraging deep category insight, operational excellence, and a broad thought partnership network. Since 1989, the firm has made over 200 investments in leading consumer brands. L Catterton was formed through the partnership of Catterton, LVMH and Groupe Arnault. For more information about L Catterton, please visit lcatterton.com.
About Sorenson Capital
Sorenson Capital (www.sorensoncapital.com) is a private equity firm that makes middle-market buyout and growth equity investments. Sorenson Capital has more than $1 billion in capital under management and typically makes investments of $10 to $40 million in companies with unique strategic positions. Sorenson Capital is based in Salt Lake City, Utah.
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SOURCE Zarbee’s Naturals