RONKONKOMA, N.Y. — NBTY Inc. has agreed to sell its Vitamin World retail business to private investment firm Centre Lane Partners.
The vitamins and dietary supplements maker said Tuesday that the deal, slated to close by mid-February, will enable Vitamin World to operate as a stand-alone retail business. Financial terms of the transaction weren’t disclosed.
“Vitamin World has a long history of meeting its customers’ wellness needs. For some time, it has been clear that it should be a stand-alone business with the right investment and resources tailored to a retail operation,” stated Steve Cahillane, president and chief executive officer of NBTY.
“With the shift of NBTY’s focus in our U.S. business to investing in and building our core brands, this sale of Vitamin World to Centre Lane Partners will ensure Vitamin World has the right investment and focus on its future as a stand-alone retail business,” he noted.
Launched in 1976 with a kiosk in Williamsville, N.Y., Vitamin World now has 380 stores under its banner in the United States, Guam, the Virgin Islands and Puerto Rico.
“The Vitamin World employees are dedicated to helping our customers meet their wellness goals,” commented Sue Gove, president of Vitamin World. “We are excited to begin this new journey with Centre Lane Partners and to continue giving Vitamin World’s loyal customers the best products and service in the industry.”
A portfolio company of The Carlyle Group, NBTY makes and markets some of the leading vitamin and supplement brands, including Nature’s Bounty, Sundown Naturals, Osteo Bi-Flex, Solgar, MET-Rx, Pure Protein , Body Fortress, Puritan’s Pride and Holland & Barrett, among others.
“We are enthusiastic about working with the Vitamin World management team and employees to position the business for long-term growth and success,” added Mayank Singh, a managing director at New York-based Centre Lane Partners. “They have done a terrific job of making Vitamin World one of the leading specialty retailers of vitamins, minerals and supplements, and we want to build on that foundation.”