North Castle Partners Sells Doctor’s Best
North Castle Partners and its co-investors today announced the sale of Doctor’s Best, Inc. (“Doctor’s Best” or “DRB”), a leading marketer and distributor of science-based branded nutritional supplements, to Xiamen Kingdomway Group Co. (SHE: 002626). For North Castle Partners, a leading private equity firm focused on consumer businesses that promote Healthy, Active and Sustainable Living, the exit concludes another successful partnership in the Nutritional Supplements Industry. The terms of the transaction were not disclosed.
“Our investment in Doctor’s Best illustrates North Castle’s ability, as a focused fund, to leverage knowledge, network and expertise to provide a company with growth opportunities and set a path for ongoing success,” said Chip Baird, CEO and Founder of North Castle Partners.
“With nearly two decades of experience in the Healthy, Active and Sustainable Living market, our extensive network of relationships in this industry, coupled with our experience in and knowledge of the category, provided insights that we believe helped Doctor’s Best develop into a strategically important part of Kingdomway’s future,” added Alison Minter, Managing Director of North Castle Partners.
Gale Bensussen, CEO Doctor’s Best, said, “My relationship with North Castle dates back to North Castle’s inception. From my roles as a North Castle advisor, member of the management team of a former NCP portfolio company and several positions as a member of the Boards of Directors of North Castle companies, I understood the resources and support I would have when I became the CEO of Doctor’s Best. I believe our partnership with North Castle and the access to its resources had a significant positive influence on our company.”
“Our partnership with Gale and the Doctor’s Best team is the most recent example of our vision of realizing the power of values-based partnerships and experienced operating resources to help entrepreneurs take their companies to the next stage of their development – what we call ‘Full Potential Partnerships’,” concluded Chip Baird, CEO and Founder of North Castle Partners.