On Dec. 16, Utah-based Better Being Co. announced it has been acquired by a syndicate of global investors led by Snapdragon Capital Partners with a financing solution provided and managed by Strategic Value Partners (SVP).
Better Being manufacturers and distributes numerous dietary supplement and personal care products including Solaray, Zhou Nutrition, KAL, Dynamic Health, Zand, NutraBiogenesis, Heritage Store and Lifeflo.
As part of the transaction, HGGC sold its remaining stake in Better Being, exiting its investment in the company after eight years. A committed financial reserve has been agreed to between management, investors and lenders to provide additional capital for near-term acquisitions that will expand the brand portfolio and global consumer reach, the company said.
“Today’s announcement is an important milestone for the nearly one thousand Better Being team members and the generations of consumers that have trusted our brands to meet their wellness needs every day,” said Brian Slobodow, CEO of Better Being. “We could not be more appreciative to our former investment partners, HGGC, for their years of guidance and support. We are equally appreciative of our new investment syndicate for the commitment they have shown to our winning strategy and the management team behind it.”
“Since Snapdragon’s minority investment in Better Being in 2019, our conviction in the businesses has only grown, and we see this transaction as the natural next step in our partnership,” added Mark Grabowski, managing partner of Snapdragon. “Better Being has seen two years of explosive growth led by the company’s flagship Solaray brand, now sold in over 85 countries. We’re excited to support Better Being’s exceptional management team as they continue to execute against their vision of building a truly global platform for health and wellness products.”
For more information, visit www.betterbeing.com.
