Supplements and weight-management business Wellful has snapped up fellow health-focused US business Ancient Nutrition from its private-equity backers.
Wellful, which itself is owned by private-equity house Kainos Capital, has bought Ancient Nutrition from investors including VMG Partners and Hillhouse Investment. Financial details were not disclosed.
Wellful anticipates that the acquisition will enhance its “omnichannel presence” across various vitamin, mineral, and supplement (VMS) categories, while also broadening its distribution reach into the “natural retail channel.”
Kainos partner David Gassko said the deal positions “Wellful as the largest independent VMS platform in North America”.
Founded in 2016 by Jordan Rubin and Josh Axe, Ancient Nutrition offers products such as collagen protein powders and whey protein.
The brand’s primary offerings focus on protein, digestive health, and greens. These products are free from GMOs, gluten, dairy, soy, grains, and nuts.
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In a statement, Wellful highlighted that since its inception, Ancient Nutrition has experienced “substantial growth” and has become the “fastest-growing VMS brand and the largest collagen brand within the natural channel.”
In March 2018, Ancient Nutrition received $103m in funding from a group of investors to expand its operations.
Wellful CEO Brandon Adcock added: “We are very excited to further strengthen the brand and to expand the product portfolio that customers have come to know and trust.
“Ancient Nutrition is the perfect addition to our already robust portfolio of brands and further cements our commitment to and belief in the VMS industry.”
Wellful’s portfolio includes “scientifically formulated solutions” across various brands such as Nugenix, Peptiva, Doctors’ Preferred, Nutrisystem, and Jenny Craig, which it acquired in July 2023.
Colt Morton, CEO of Ancient Nutrition, will remain at the helm of the business as it becomes part of Wellful.
Morton said: “Partnering with Wellful marks an exciting new chapter in our journey. Wellful’s resources and our shared vision for innovation position Ancient Nutrition to bring our mission to even more people while staying true to the values and culture that have brought us here.”