North Castle Partners Invests In SmartyPants Vitamins
Partnership Marks the Firms 8th Investment in the Vitamin Industry
North Castle Partners and SmartyPants Vitamins announced today that the private equity firm has made a growth investment in the burgeoning vitamin brand. CircleUp Growth Fund provided a co-investment alongside North Castle. SmartyPants is a developer, GMO-free gummy vitamins and supplements for kids and adults alike. For North Castle Partners, a leading private equity firm focused on consumer businesses that promote healthy, active and sustainable living, this transaction represents its 8th investment in the dietary and nutritional supplements industry. The terms of the investment were not disclosed.
Launched in 2010 by Co-CEOs Courtney Nichols Gould and Gordon Gould, SmartyPants Vitamins provides consumers with “all in one” nutritional supplements that combine the highest quality, sustainably sourced (eco-friendly), bio-available nutrients with great taste at a compelling value proposition. SmartyPants’ products have no high fructose corn syrup, artificial colors, sweeteners, flavors or preservatives. SmartyPants’ core products include Kids Complete, Kids Fiber, Adult Complete, Adult Fiber and most recently, PreNatal vitamins.
“We are proud to partner with Courtney and Gordon and the SmartyPants team,” said Alison Minter, North Castle Managing Director. “SmartyPants is one of the most attractive businesses we have seen in the nutritional supplement industry. The company’s strong product foundation, brand positioning and mission driven approach differentiates its prospects in a crowded category,” continued Ms. Minter.
“North Castle’s mission is to partner with entrepreneurs to build great companies that advance healthy, active and sustainable lifestyles, while living by our core values and striving to create extraordinary value for these companies, their employees, investors and communities,” said North Castle Managing Partner, Chip Baird. “For more than 18 years, North Castle has partnered with companies in the dietary and nutritional supplements industry, and we are excited to leverage our network and substantial prior experience in the industry to help SmartyPants continue to grow.”
“We are very pleased to begin our partnership with North Castle,” said Courtney Nichols Gould, Co-Founder and Co-CEO of SmartyPants, Inc. “There are often intangibles that make good partnerships great. We believe that North Castle’s unique industry approach to focus on outsized performance while maintaining the highest standards of integrity and partnership is what makes them the ideal partner for us. We look forward to leveraging the firm’s knowledge, experience and strong network of nutritional supplements industry experts as we continue our mission to simplify health and build on the more than one-million 1-for-1 nutrient grants delivered to children in need through our partnership with Vitamin Angels.”
“North Castle’s team, advisors and years of experience bring a wealth of knowledge in high-growth branded nutrition businesses to the SmartyPants team,” said Gordon Gould, Co-Founder and Co-CEO of SmartyPants Vitamins. “We believe the firm’s mass market and Internet distribution experience, coupled by its expertise in product and channel expansion, will be an invaluable resource as we continue our upward growth year-over-year.”