Salt Lake City, UT—A syndicate of global investors have agreed to acquire Better Being Co., the vertically integrated manufacturer, marketer, and distributor of branded dietary supplements and personal care products including Solaray, Zhou Nutrition, KAL, Dynamic Health, ZAND, NutraBiogenesis, Heritage Store, and Lifeflo. Led by growth equity and buyout firm, Snapdragon Capital Partners, LLC, with a financing solution provided by funds managed by Strategic Value Partners, LLC (together, “SVP”) and its affiliates, full ownership was obtained through the purchase of stock owned by HGGC, LLC.

“SVP is pleased to join Snapdragon in supporting Better Being in its next phase of growth,” said Brian Himot, Managing Director and Head of Structured Capital at SVP. “We see excellent potential in Better Being’s vertically integrated platform and believe that its consistent focus on product quality and innovation will collectively serve to differentiate its products further to meet evolving consumer wellness needs.”

Ushering in a new era

Snapdragon’s investment in the natural products company began in 2019 and with its latest acquisition, marks the end of HGGC’s ownership stake in Better Being, which started in 2017. “Since we first partnered with Better Being in 2017, the Company has made tremendous strides in its evolution into the globally competitive wellness platform it is today,” said HGGC. “We are proud of all that we have achieved together through our collaboration and look forward to watching the continued success of the entire Better Being team as they build on this strong progress in the years ahead.”

Under the supervision of lead financial advisor William Blair, co-financial advisor William Hood & Company, and legal counsel of Kirkland & Ellis LLP, Better Being was able to secure a committed financial reserve, agreed to between management, investors, and lenders to provide additional capital for near-term acquisitions that will expand the brand portfolio and global consumer reach. 

“Since Snapdragon’s minority investment in Better Being in 2019, our conviction in the businesses has only grown, and we see this transaction as the natural next step in our partnership,” shared Mark Grabowski, Managing Partner of Snapdragon. “Better Being has seen two years of explosive growth led by the Company’s flagship Solaray brand, now sold in over 85 countries. We’re excited to support Better Being’s exceptional management team as they continue to execute against their vision of building a truly global platform for health and wellness products.”

Better Being CEO Brian Slobodow expressed his gratitude for HGGC’s eight-year commitment to the company and expressed optimism for what’s to come for the organization and its employees. “Today’s announcement is an important milestone for the nearly 1,000 Better Being team members and the generations of consumers that have trusted our brands to meet their wellness needs every day. We could not be more appreciative to our former investment partners, HGGC, for their years of guidance and support. We are equally appreciative of our new investment syndicate for the commitment they have shown to our winning strategy and the management team behind it. We have been operating with focus and discipline since I partnered with President and Chief Commercial Officer Kyle Garner to take the Company forward. We are a values-driven organization demonstrating a focus on respect, wellness, accountability, transparency, collaboration, and heritage-driven leadership. We’re excited to work with our new partners on this next phase of growth.”

Related: M&A Update: Carbyne Equity Partners Acquires SuanNutra

Church & Dwight to Sell Vitamin, Minerals, and Supplements Business to Piping Rock