Avista Capital Partners (Avista), a private equity firm focused exclusively on healthcare, is to sell Arcadia Consumer Healthcare, (Arcadia), a specialist in the consumer healthcare market for over-the-counter (OTC) medicines and premium vitamins and nutritional supplements, to Bansk Group, a private investment firm focused on building distinctive consumer brands.
Financial terms of the transaction have not been disclosed.
In 2018, Avista acquired Arcadia’s predecessor, Kramer Laboratories, Inc, a company focused on delivering innovative healthcare products to help consumers self-treat their everyday problems. Kramer’s portfolio brands and products included highly efficacious OTC foot care and specialty cough treatments. Shortly thereafter, Avista helped lead a comprehensive re-branding and re-launch to create Arcadia – now a leading platform of consumer healthcare products, including premium vitamin and nutritional supplements, and OTC medicines in the therapeutic hair care, foot care, digestive health and specialty cough categories.
Rob Girardi, Partner at Avista, says: “Avista invested in Arcadia because we saw the potential for the brands to capitalise on the growing trends in self-care. We are thrilled with the partnership we’ve enjoyed with Arcadia in developing a highly-effective strategic M&A program, investing in innovation, and expanding into new markets beyond traditional OTC. We’re confident that Arcadia will continue to succeed under Bansk’s ownership, particularly with Mike DeBiasi and his team remaining at the helm, and are grateful for the opportunity to support them over these last three years.”
Mike DeBiasi, CEO of Arcadia, adds: “Our team has always been motivated to find new opportunities to deliver innovative solutions to everyday healthcare needs, and Avista has been a fantastic partner helping us deliver on this mission. Their deep consumer healthcare expertise, proactive approach to M&A, and collaborative strategy for optimising portfolio company performance has been integral to our rapid growth. Just as importantly, they have helped us build a strong and sustainable platform for even greater expansion and success moving forward. I want to thank Avista for their tremendous support and the entire Arcadia team for their hard work, passion for building brands, and commitment to drive growth. Arcadia is truly excited about continuing to accelerate this growth with Bansk in the next phase for our company.”
Since 2018, Arcadia’s strategic M&A program has included the acquisitions of Nizoral, Kaopectate and NATURELO, which joined a diverse portfolio of existing consumer healthcare brands under the Arcadia banner, offering simple, efficacious, high-quality solutions to help consumers achieve the harmony of feeling good and looking good.
The transaction is expected to close in September, subject to customary closing conditions and regulatory approvals.
Houlihan Lokey served as the exclusive financial advisor to Arcadia and assisted in structuring and negotiating the transaction on its behalf. Ropes & Gray served as Arcadia’s legal advisor.
