Carrolton-based Innovations in Nutrition and Wellness Group has acquired a Utah-based dietary complement producer, Capstone Nutrition — the second massive diet and wellness firm it has added to its portfolio of greater than half a dozen dietary complement and well being meals manufacturers within the final 12 months.
INW Group purchased Capstone from its personal fairness homeowners, Brightstar Capital Partners, for an undisclosed quantity, in line with a Tuesday launch.
This is the primary acquisition INW has made since Dallas-based Rosewood Private Investments offered the dietary complement, cosmetics and well being meals holding firm to New York-based personal fairness agency Cornell Capital in March. Cornell Capital is a $4 billion agency based by the previous vice chairman of Goldman Sachs’ service provider banking division, Henry Cornell, in 2013.
INW stays headquartered north of Dallas in Carrollton and will probably be led by present Capstone CEO Jared Leishman as a part of the deal, in line with Cornell Capital. Leishman brings 15 years of dietary complement trade expertise to the function.
The acquisition of Capstone, which manufactures powdered, liquid and stable dietary dietary supplements, provides a 300,000-square-foot manufacturing facility in Ogden, Utah, to the group’s manufacturing footprint.
“This transaction positions INW as a number one, full-service platform on this fragmented and high-demand section of the well being and wellness market,” Cornell Capital associate Justine Cheng mentioned in an announcement.
“Capstone’s experience throughout quite a lot of product varieties and elements, extremely versatile infrastructure and 30-year historical past of high quality and effectivity as a trusted model associate are spectacular. We look ahead to partnering with Jared and the remainder of Capstone’s skilled crew to share finest practices and drive continued development at INW throughout an expanded operational and buyer footprint.”
INW Group has acquired no less than seven well being and wellness firms since 2014, together with dietary dietary supplements supplier United 1 Laboratories, East Texas-based ProTec Laboratories, California-based ProForm Laboratories, sports activities diet supplier Phoenix Formulations and Nevada-based Living Ecology.
INW-produced well being meals and dietary dietary supplements are carried by massive retailers together with Costco, Whole Foods and Starbucks.
Cornell Capital additionally acquired U.Ok.-based complement manufacturing large Bee Health concurrently it reached an settlement to purchase INW from Rosewood Private Investments — increasing the group’s holdings internationally. Rosewood Private Investments is the personal fairness arm of Dallas oil heiress Caroline Rose Hunt’s property, which has huge holdings in ranching, actual property, oil and different industries.