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Transactions
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Home | About HBP |
HBP Services
| Transactions
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Events | Contact
Us | ||||||||||||||||
In
2003 drugstore.com, the leading online retailer of health, beauty,
wellness, personal care, and pharmacy products, completed the
acquisition of Custom Nutrition Services (CNS) of Carlsbad, California
for $5.3 million plus future payments in accordance with various
performance formulae. CNS provides personalized nutrition services to
consumers in the form of an online assessment of an individual's
specific nutritional supplement needs, and then delivers the
personalized vitamins, minerals, herbs, and supplements in daily dose
packaging. Among others, CNS is the exclusive online distributor for
CustomPaks from Dr. Andrew Weil at www.DrWeil.com. Health Business
Partners had a long-standing advisory relationship with CNS in which we
assisted the company in strategic matters including the timing and
nature of a potential financing or sale of the business. When the
company was approached by drugstore.com we helped the CEO to prepare and
present the business opportunity that eventually led to the transaction.
We assisted in devising a transaction structure, deal parameters and a
counter-proposal to the initial offer. We then helped the CEO to
evaluate the final offer, present it to his investors and secure their
agreement.
Health
Business Partners was engaged exclusively by the owners of McZand
Herbal, Inc. to sell the company. Health Business Partners worked with
management to assess the appropriate timing to sell the company, and
then proceeded to draft a selling memorandum, identify and then contact
prospective buyers. After eliminating several prospective buyers based
on financial and other criteria, Health Business Partners negotiated
very favorable purchase price and payment terms.
France's
largest branded manufacturer of nutritional supplements and
over-the-counter botanical medicines acquired all the assets of Oakmont
Investment Co., Inc., a family-owned company that markets nutritional
supplements under the Health From The Sun and Oakmont Laboratories
brands. Health Business Partners worked with the owners and management
of Oakmont to identify and evaluate alternative business strategies. All
agreed to selectively market the company. Working with management,
Health Business Partners drafted an Information Memorandum, assembled a
list of prospective acquirers, evaluated each for strategic fit and
assessed likely valuations and alternative transaction structures.
Health Business Partners then followed up on approaches made by several
prospective acquirers, managed the due diligence process and negotiated
and secured a very attractive transaction.
A
majority stake in the equity capital of East Earth Herb, Inc. was
acquired by Zink & Triest, parent of Folexco and a member of the A.M.
Todd Group of companies. Health Business Partners was engaged on an
exclusive basis to represent the owners of East Earth Herb and provided
comprehensive advice and support throughout the process, allowing the
owners of East Earth Herb to continue to focus on operating their
business.
In
2004, Bio-One Corporation consummated the acquisition of all the issued
and outstanding capital stock of Interactive Nutrition Inc. for an
aggregate purchase price of C$30 million. Interactive Nutrition is a
manufacturer and distributor of branded, specialty nutritional
supplements, based in Ottawa, Canada. Its products are marketed in the
United States, Canada and Hong Kong. As part of an acquisition search
assignment, Health Business Partners helped to develop Bio-One's
business strategy and crafted their acquisition criteria. HBP then
systematically analyzed selected segments of the nutritional supplements
manufacturing industry and in the process identified numerous
acquisition candidates for Bio-One. Working closely with our client, we
established contact with prospects and gradually reduced the list to a
few that we considered to be the best fit. Among those selected was
Interactive Nutrition. HBP then initiated transaction discussions,
prepared valuation analyses and actively supported our client through
the negotiation process, editing, proposals, term sheets and letters of
intent as required until sufficient agreement had been thoroughly
documented for the lawyers to prepare the transaction documents.
Health
Business Partners was engaged exclusively by Thorne Ledge Investments, a
private investment firm focused on leading food manufacturing
businesses, to assist them in
identifying acquisitions in the North East. We worked with Thorn Ledge to develop
acquisition criteria, survey the landscape of potential targets,
identify a shortlist, approach
the owners, select a priority
target and then negotiate the
acquisition of Fairfield Farm Kitchens, a high quality custom food
manufacturer. After completing this assignment, HBP was retained by
Fairfield Farm Kitchens to execute additional complementary acquisitions, which resulted in the
identification of the Boston Chowda Company, a manufacturer of award
winning chowders and soups for the food service and retail channels and
acquisition of rights to their product lines.