The Carrolton-based Innovations in Nutrition and Wellness Group has acquired a Utah-based nutritional supplement manufacturer, Capstone Nutrition – the second major nutrition and wellness company to add to its portfolio of more than half a dozen nutritional and health food brands in recent years added year.
INW Group bought Capstone from its private equity owners Brightstar Capital Partners for an undisclosed amount, according to a press release on Tuesday.
This is the first acquisition INW has made since Rosewood Private Investments, based in Dallas, sold the nutritional supplements, cosmetics and health food holding company to New York-based private equity firm Cornell Capital in March. Cornell Capital is a $ 4 billion company founded in 2013 by former vice chairman of Goldman Sachs’ merchant banking division, Henry Cornell.
INW is headquartered north of Dallas in Carrollton and will be led by current Capstone CEO Jared Leishman as part of the transaction, according to Cornell Capital. Leishman brings 15 years of experience in the nutritional supplement industry.
The acquisition of Capstone, which manufactures powder, liquid and solid nutritional supplements, expands the group’s manufacturing capacity to include a 300,000 square meter facility in Ogden, Utah.
Capstone Nutrition’s Utah manufacturing facility is one of the largest in the industry, according to Cornell Capital.(Capstone diet)
“This transaction positions INW as the leading full-service platform in this fragmented and highly sought-after segment of the health and wellness market,” said Justine Cheng, partner at Cornell Capital, in a statement.
“Capstone’s expertise in a multitude of product forms and ingredients, the highly flexible infrastructure and the 30-year history of quality and efficiency as a trustworthy brand partner are impressive. We look forward to working with Jared and the rest of the seasoned Capstone team to share best practices and drive INW’s continued growth through an expanded operational and customer presence. “
INW Group has acquired at least seven health and wellness companies since 2014, including nutritional supplement provider United 1 Laboratories, East Texas-based ProTec Laboratories, California-based ProForm Laboratories, sports nutrition provider Phoenix Formulations, and Nevada-based Living Ecology.
INW-produced health foods and supplements are sold by major retailers such as Costco, Whole Foods and Starbucks.
Cornell Capital also acquired British dietary supplement giant Bee Health when it reached an agreement to purchase INW from Rosewood Private Investments, expanding the group’s holdings internationally. Rosewood Private Investments is the private equity arm of the estate of Dallas oil heiress Caroline Rose Hunt, who has large holdings in livestock, real estate, oil and other industries.