Middle-market private equity firm Gryphon Investors announced that it has signed a definitive agreement to acquire Metagenics, Inc. from Alticor Inc. Metagenics is a global practitioner-recommended nutritional supplement company that has worked with healthcare practitioners for over three decades that recommend their nutritional products.
“We’re happy to partner with a company that operates at the gold standard of scientific credibility, quality, innovation, and sourcing transparency. Both healthcare practitioners and their patients are increasingly focused on making proactive healthy lifestyle choices, and nutrition is a necessary part of that effort. Gryphon has been searching for the right platform to invest behind this movement for several years and we will continue to actively search for similar opportunities—potential acquisitions for Metagenics as well as incremental independent platforms in the health and wellness category,” said Ryan Fagan, Managing Director in Gryphon’s Consumer Group.
In partnership with Metagenics’ leadership team, Gryphon will continue to invest in Metagenics’ global mission of providing effective nutritional solutions recommended by healthcare professionals.
Background
Founded in 1983 and based in Aliso Viejo, CA with facilities in North America, Europe, and Australia, Metagenics creates clinically-proven nutrition programs and products to support health. The company has over 850 natural health products spanning seven functional areas, including digestive health, foundational health, cardiometabolic/immune response, neurological health, immune health, women’s health, and bariatric health.
In addition to being an early leader in the practitioner channel mode in the supplements industry, Metagenics has also been a leader in the personalized medicine field as well. In 2019 the company opened its Personalized Lifestyle Medicine Center in Gig Harbor, WA. The center offers medical care, including insurance billing capabilities, along with customized nutritional plans.
"We believe health is a set of skills that can be learned, and we want the PLMC to be at the forefront of the research that supports that goal," Metagenics CEO Brent Eck told NutraIngredients-USA at the time of the center's opening.
Team
Metagenics’ management team will continue to be led by Eck, who said that the partnership helps put their plan for global, long-term sustainable growth for the brand in motion.
“Gryphon brings a truly differentiated set of capabilities as a partner, and their investment will allow us to invest for the future, both organically and through strategic acquisitions,” said Eck.
As part of the transaction, Gryphon Executive Advisor Steve LaMonte will become Executive Chairman of the Metagenics Board. This will be the fourth investment in which Gryphon and LaMonte have partnered. He will be one of several Gryphon executive advisors to join the board along with Gryphon Operating Partner Mike Ferry, Gryphon Deal Partner Matt Farron, and Gryphon Managing Director Ryan Fagan.
“Metagenics has a unique position as a leader among nutrition brands recommended by healthcare practitioners across its three core geographic markets. We are excited to invest behind the Metagenics mission, including helping their healthcare practitioner partners to support the health of their patients around the world,” said Ferry.
Financial terms of the transaction were not disclosed. The transaction is expected to close in the fourth quarter of 2021.
