The Carlyle Group (CG) announced that it is selling majority control of Nature’s Bounty Co., a global manufacturer, marketer and distributor of health and wellness products, to KKR (KKR).
Following the transaction, which is expected to close by the end of 2017 and is subject to the receipt of customary regulatory approvals and the satisfaction of other customary closing conditions, KKR will be the majority owner of Nature’s Bounty while Carlyle will retain a significant stake in the company. Financial terms were not disclosed. This announcement follows Nature’s Bounty’s recent agreement to sell its UK-based Holland & Barrett retail chain to L1 Retail, the retail investment arm of LetterOne.
KKR is acquiring a majority stake in the remaining business of Nature’s Bounty, known as the Consumer Products Group. Equity capital for the transaction comes primarily from KKR’s Americas XII fund. Carlyle invested in Nature’s Bounty in 2010 via Carlyle Partners V, a $13.7 billion U.S. buyout fund, and Carlyle Europe Partners III, a EURO$5.4 billion European buyout fund. Carlyle was advised in the transaction by Goldman Sachs, Houlihan Lokey, UBS Investment Bank, Latham & Watkins, PricewaterhouseCoopers and The Boston Consulting Group. KKR was advised in the transaction by Simpson Thacher & Bartlett and Deloitte.
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