STAMFORD, Conn., July 7, 2020 /PRNewswire/ -- Kidd & Company, LLC ("KCO") and T-street Capital, LLC ("T-street") announced today that they have partnered to create a Direct to Consumer ("DTC") e-commerce strategy by forming Brand Holdings, LLC, a holding company focused on acquiring DTC e-commerce companies with a focus on health and wellness, sports nutrition, beauty and functional foods. KCO and T-Street announced the completion of the first acquisition, Dr. Emil Nutrition ("Dr. Emil" or the "Company"). Dr. Emil is a leading provider of a portfolio of health and wellness supplements as well as sports nutrition products for both the enthusiast athlete and everyday consumer backed by the scientific background of Dr. Emil Hodzovic. The Company is experiencing remarkable growth and has amassed a loyal following by leveraging the brand's science-backed approach to nutritional supplements.
KCO and T-street will partner with Dr. Emil Hodzovic, the medical doctor and nutrition/wellness expert behind the brand, and industry veteran Jeff Hennion, who will serve as the Executive Chairman and Chief Executive Officer of Brand Holdings and Dr. Emil Nutrition. Hennion's prior experience includes his leadership role as Executive Vice President, Chief Marketing & E-Commerce Officer of GNC, as well as Executive Vice President and Chief Marketing Officer of Dick's Sporting Goods. Hennion also served as Chief Executive Officer of JEGS Automotive, a specialty automotive aftermarket company, where he led the transition from a catalog company to a DTC e-commerce brand. He currently serves on the Board of Directors of Briggs & Stratton, is Chairman of the Advisory Board at Listrak, is the co-Founder and Managing Partner of Woodside Ventures, Inc., a leading, high growth e-commerce digital agency, and is an advisor to a number of e-commerce and technology companies. Hennion's decades of expertise in marketing and e-commerce will be beneficial as KCO and T-street continue to build Dr. Emil into a premier, all-natural health, wellness, and sports nutrition supplement franchise.
Jeff Hennion commented, "The DTC e-commerce space is growing substantially, especially given changing consumer behavior during this pandemic and the shift in marketing mix moving forward, and we are excited about the opportunity to create a portfolio of DTC e-commerce brands with a focus on growth. Dr. Emil Nutrition has tremendous momentum because it offers natural, clean products and has successfully developed a broad portfolio of science-backed formulations to serve the growing needs of a diverse group of customers."
Dr. Emil Hodzovic commented, "My goal is to help people achieve their health, wellness and nutrition goals – and this is why I helped to create Dr. Emil Nutrition originally. I look forward to working with Jeff, KCO and T-street to enhance the Dr. Emil Nutrition brand, further develop the product line, and build a deeper relationship with our customer base."
The U.S. nutritional supplement market is growing at a robust rate, with the sports nutrition segment poised for the most significant growth as the market expands to include a significantly broader array of customers. While historically e-commerce has been a surprisingly small share of supplement sales, its share of the overall market is expected to double by 2022. Specifically, sports nutrition products sold through e-commerce will continue to offer the highest growth potential for the future of the industry.
Gerry DeBiasi, a Partner at KCO, commented, "The market for nutritional supplements is undergoing a momentous shift as e-commerce continues to play an increasingly critical role in consumer purchasing behavior. Dr. Emil has demonstrated proven success with online sales and is well positioned to benefit from these industry trends. We aim to grow the brand significantly going forward, as well as explore opportunities to leverage the DTC space and grow Brand Holdings."
Dale Cheney, Managing Partner at T-street, added, "Dr. Emil Nutrition has built a remarkable business on a foundation of improving people's lives through innovation in health, wellness, and sports nutrition products for the everyday consumer. We look forward to a strong partnership with KCO and Jeff Hennion as we continue to build Dr. Emil Nutrition into the leading franchise for health & wellness with a focus on sports nutrition, beauty and functional foods."
About Kidd & Company
Kidd & Company, LLC (KCO), based in Old Greenwich, CT, is the private equity investment arm of the Kidd Family Office. KCO traces its roots to 1976 when the firm's founding partner, William Kidd, made his first private equity investment. Today, KCO sponsors control equity investments in the lower middle market where the complementary skills and experience of the firm's partners can be applied to create significant value over time. KCO implements its thesis-driven approach to power above-market growth in revenue and earnings, both organically and through accretive acquisitions. The diverse skill set of the firm's partners allows KCO to bring management, operational, sales and marketing, corporate finance, and M&A expertise to bear to substantially increase the total value of its investments. For more information, visit www.kiddcompany.com.
About T-street Capital
T-street is an independent investment firm whose primary mission is to partner with founders and management teams to support the growth and strategic development of small to mid-size businesses focused on emerging consumer product brands. The team has a diverse background of consumer investing and operating expertise that can be supportive in providing a flexible and tailored equity solution for accelerated expansion. T-street's consumer-focused categories include, food & beverage, health & wellness, active lifestyle, fitness & nutrition, leisure & entertainment, and beauty & personal care. T-street was founded in 2013 by the General Partner, Dale Cheney. For more information on T-street, please visit www.t-street.com.
Media Contact: Dale Cheney, [email protected]
SOURCE T-street Capital, LLC