Supplier News Breaks Archives
Canada's biggest vitamin maker sold to investment firm
January 27th, 2014
TORONTO – Jamieson Laboratories Ltd., Canada's leading provider of vitamins, minerals and nutritional supplements, has agreed to be acquired by affiliates of CCMP Capital Advisors LLC.
Jamieson Labs said Monday that under the deal, Eric Margolis will remain chairman of Jamieson's board and serve as a consultant. Jamieson chief executive officer Vic Neufeld will continue to oversee the company, working closely with Doug Cahill, a CCMP executive advisor with more than 20 years of consumer products experience at Doane Pet Care, Mars Petcare and Oreck.
"I've been leading Jamieson for 41 years. Today, one in three Canadians take Jamieson supplements, making it this country's No. 1 vitamin brand," Margolis said in a statement. "Jamieson will benefit from new infusions of capital and top-line management to continue its growth, including expansion into the United States and internationally, to achieve our goal of becoming a world market leader."
With the closing of the transaction, Cahill will become a consultant to Jamieson and will chair its executive committee.
Financial terms of the agreement weren't disclosed. The deal is slated to close Jan. 31.
Founded in 1922, Jamieson Labs Canada's largest manufacturer and distributor of advanced natural health products and a global innovator in the development of proprietary supplement formulas. Its products are made at the company's state-of-the-art laboratories in Windsor, Ontario. With corporate offices in Toronto, Jamieson exports products to more than 50 countries.
"Jamieson has built an outstanding reputation for quality, purity and innovation since its founding 92 years ago and has now established its position as the market leader in Canada, with a diverse portfolio of innovative formulas," stated Rich Zannino, managing director of CCMP. "We see tremendous opportunities to grow Jamieson's footprint in the $30 billion global VMS [vitamins, minerals and supplements] market."
According to Zannino, Jamieson Labs' headquarters will remain in Toronto and its manufacturing and quality control labs will remain in Windsor.
"CCMP will prove excellent stewards for this landmark company and will continue Jamieson's devotion to producing the world's finest, purest nutritional products while avoiding all forms of animal testing," Margolis added.