A family business which is one of the UK’s leading online retailers of nutritional supplements has been acquired by a Californian company for an undisclosed sum.
Nutri Advanced, which is based in Whaley Bridge, High Peak, has been sold to Metagenics Inc, which is backed by US-based private equity firm Gryphon Investors. Dow Schofield Watts advised Nutri Advanced on the deal.
Nutri Advanced was set up in 1981 by naturopath Norman Eddie and his son Ken to bring specialist nutritional supplements into the UK. The company, which now employs 40 staff, develops and supplies a range of nutritional supplements, primarily through its own ecommerce website, to consumers and practitioners in the UK and Ireland. It is renowned for its innovative products, education and training offering. The acquisition will provide an exit for Ken Eddie, who now owns the business.
Ken Eddie, founder and Managing Director of Nutri Advanced, said: “I feel extremely lucky to have spent the last 40 years working on my passion, which is to enable people to improve their health and lifestyle through nutrition and education. Over those years we have built a great business with an enviable reputation for product quality and become the number one brand in the professional nutrition market in the UK.
“In more recent years, expansion of our online B2C marketplace has transformed the business growth and attracted many new users. We have worked closely with Metagenics for over 30 years and so I’m very pleased that they will now take Nutri Advanced to the next level of growth and take forward the legacy that I started with my family.”
The Dow Schofield Watts team consisted of Dan Walker, Alex Odlin and Philip Price. Dan Walker said: “Nutri Advanced and Metagenics have a long history of working together, particularly in product development. It was clear from the start that Metagenics would be a great home for the business, and one where it could continue to flourish in a world where the demand for proactive health and wellbeing solutions has never been higher.”
Stijn Oste, vice president Metagenics EMEA, said: “For Metagenics the acquisition is part of a strategy to have a direct presence in all major EMEA countries, and to exploit the synergies of a pan-European activity in nutrition-based products and concepts for helping people to lead a healthier, happier life.”
Piers Dryden and Shaun Little of Beyond Corporate Law provided legal advice to the shareholders.
