North Castle Partners Acquires Doctor’s Best, Inc.
Extending its Presence in the Dietary and Nutritional Supplements Industry
North Castle Partners and its co-investors announced today that they have invested in Doctor’s Best, Inc. (“Doctor’s Best”), a leading marketer and distributor of science-based branded nutritional supplements. North Castle is a leading private equity firm focused on investments in consumer-driven companies that promote Healthy, Active and Sustainable Living. The terms of the investment were not disclosed.
Headquartered in San Clemente, California, Doctor’s Best is a fast-growing, marketer and distributor of science-based branded nutritional supplements. Doctor’s Best’s strategy is centered upon science-based formulations, high quality ingredients, and delivering educational and informational support to its customers and consumers, while offering a compelling price / value proposition. Doctor’s Best top customers include industry leaders in the dietary supplements space such as iHerb, Vitamin Shoppe, Amazon, and Vitacost and fast-growing brick and mortar retailers such as Sprouts and Whole Foods.
“We are excited to partner with Scott Steinford, CEO, and the entire Doctor’s Best team to provide consumers with high quality, science-based nutritional supplements,” said Chip Baird, North Castle’s Managing Partner. “Healthy nutrition tools, such as Doctor’s Best’s supplements with its strong focus on education and transparency, are paramount to North Castle’s mission to invest in companies that provide high quality products which promote healthy, active and sustainable living.”
“We are pleased to have Doctor’s Best join the North Castle family,” added Alison Minter, a North Castle Managing Director. “We believe the combination of Doctor’s Best’s unique formulations, positive consumer reviews, and strong retail relationships coupled with the network and knowledge from North Castle’s substantial prior experience with businesses in the dietary and nutritional supplements industry (e.g., Leiner Health Products and Enzymatic Therapy) as well as businesses with mass market distribution and channel expansion experience, (e.g., Contigo, Atkins Nutritional, Flatout Flatbread, and Avalon Natural Brands), will accelerate Doctor’s Best’s growth and increase its brand recognition.”
“After our first discussion, I knew that North Castle was the right partner for Doctor’s Best,” said Scott Steinford, CEO. “They understood our industry and shared our values. I believe that Doctor’s Best will be able to leverage North Castle’s expertise and resources in building consumer product businesses and brands to further provide our science based nutritional supplements to a wider segment of society and better serve our current consumers. I am very excited to announce this partnership and look forward to working together with the North Castle team.”
Doctor’s Best participates in the $35 billion U.S. dietary supplements industry, which is forecasted to grow at a compounded rate of 6% through 2017.