Kingswood Capital Management and Performance Investment Partners Sign Definitive Agreement to Acquire The Vitamin Shoppe

LOS ANGELES--(BUSINESS WIRE)--Kingswood Capital Management, LP (together with its affiliates, “Kingswood”) and Performance Investment Partners, LLC (“PIP”) announced today that they have entered into a definitive agreement under which an affiliate will acquire The Vitamin Shoppe (“The Vitamin Shoppe” or the “Company”), a leading pure-play omnichannel retailer of vitamins and nutritional supplements, from Franchise Group, Inc. (“FRG”). The transaction, which is expected to close later in the second quarter of this year, is subject to customary closing conditions and regulatory approvals.

Headquartered in Secaucus, New Jersey, The Vitamin Shoppe is a global, omnichannel specialty retail and wellness lifestyle company with the mission of providing customers with the most trusted products, guidance, and services to support them on their journeys of lifelong wellness. The Company offers a comprehensive assortment of nutritional solutions, including vitamins, minerals, sports nutrition, specialty supplements, herbs, homeopathic remedies, and green living products. In addition to carrying products from approximately 700 national brand partners, The Vitamin Shoppe offers high quality products from its owned proprietary brands, including: The Vitamin Shoppe®, Vthrive The Vitamin Shoppe®, BodyTech®, BodyTech® Elite, plnt®, ProBioCare®, and True Athlete®. The Company conducts business through over 650 company-operated retail stores under The Vitamin Shoppe and Super Supplements™ banners and via its website.

Kingswood Partner Michael Niegsch and PIP Partner Mark Genender commented, "We are excited to partner with The Vitamin Shoppe team and help them build upon the success the business has enjoyed over the last forty-eight years. We plan to make significant investments in the company’s third-party brand relationships, research and development across The Vitamin Shoppe’s owned proprietary brand portfolio, upgrades to the store fleet, and improvements to the omni-channel digital platform to deliver the best possible experience to customers. Further, The Vitamin Shoppe is the perfect partner for emerging and growing brands that can benefit from access to over 650 retail doors and The Vitamin Shoppe’s millions of loyalty members at a time in history when it is more important than ever for these brands to demonstrate success and traction in physical retail as well as online.”

Jefferies LLC is serving as exclusive financial advisor to Kingswood and PIP and McDermott Will & Emery LLP and Sidley Austin LLP are serving as legal counsel. Ducera Partners LLC is serving as investment banker and Kirkland & Ellis LLP is serving as legal counsel to FRG.

About Kingswood Capital Management, LP

Kingswood Capital Management, LP partners with leading companies in the middle market which stand to benefit from its capital and extensive operating resources. Kingswood embraces complexity and believes it is well-positioned to support businesses at inflection points in their development to enhance value. Based in Los Angeles, Kingswood is a cohesive, entrepreneurial team with a long history of shared success developing “win-win” partnerships with its portfolio companies and management teams. For more information, please visit the Kingswood website at www.kingswood-capital.com.

About Performance Investment Partners

Performance Investment Partners (“PIP”) was formed in 2024 by Mark Genender, Ran Reske and Todd Eberstein to invest in consumer-facing businesses where the partners’ combined investment and operating experience can add value to their portfolio investments. Mr. Genender has a long history of private equity investing in both middle market and growth companies and working closely with management teams to improve performance and drive top- and bottom-line growth. He currently serves as Chairman of Serta Simmons Bedding. Mr. Reske is the former Co-Founder and Co-CEO of Resident Home, a digitally native bedding marketer and supplier leading brands including Nectar and Dreamcloud. Resident Home was acquired in March 2024 by Ashley Furniture. Mr. Eberstein is a Managing Partner of Mesa Investments and a former portfolio manager at a leading hedge fund. PIP is based in Los Angeles, California.

About The Vitamin Shoppe®

Lifelong Wellness Starts Here™. The Vitamin Shoppe® is a global, omnichannel specialty retailer and wellness lifestyle Company with the mission of providing customers with the most trusted products, guidance, and services to support them on their journeys of lifelong wellness. Based in Secaucus, New Jersey, the Company offers a comprehensive assortment of nutritional solutions, including vitamins, minerals, sports nutrition, specialty supplements, herbs, homeopathic remedies, and green living products. In addition to carrying products from approximately 700 national brands, The Vitamin Shoppe offers products from its proprietary brands within its owned and wholesale channels, including: The Vitamin Shoppe®, Vthrive The Vitamin Shoppe®, BodyTech®, BodyTech® Elite, plnt®, ProBioCare®, and True Athlete®. In the U.S., the Company conducts business through over 650 company-operated retail stores under The Vitamin Shoppe and Super Supplements™ banners and via its website, www.vitaminshoppe.com. Globally, The Vitamin Shoppe serves customers in select Asia, South America, and Central America markets through local omnichannel partners.