NEW YORK, Aug. 9, 2021 /PRNewswire/ — Avista Capital Partners (“Avista”), a leading private equity firm focused exclusively on healthcare, announced that it has entered into a definitive agreement to sell Arcadia Consumer Healthcare, Inc. (“Arcadia”), a recognized leader 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 were not 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, said, “Avista invested in Arcadia because we saw the potential for the brands to capitalize 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, added, “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 optimizing 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.
About Avista Capital Partners
Founded in 2005, Avista Capital is a leading New York-based private equity firm with nearly $8 billion invested in 40 growth-oriented healthcare businesses globally. Avista partners with businesses that feature strong management teams, stable cash flows and robust growth prospects – investing in the medical devices and technologies, pharmaceuticals, outsourced pharmaceutical services, healthcare technology, healthcare distribution, and consumer-driven healthcare sectors. Avista’s Operating Executives and Advisors are an integral part of the team, providing strategic insight, operational oversight and senior counsel, which helps drive growth and performance, while fostering sustainable businesses and creating long-term value for all stakeholders. For more information, visit www.avistacap.com.
About Arcadia Consumer Healthcare
Arcadia Consumer Healthcare, formerly known as Kramer Laboratories, is a recognized leader in the consumer healthcare market for over-the-counter medicines and premium vitamins and nutritional supplements. For over 35 years, the company has been delivering innovative healthcare products to help consumers self-treat their everyday problems. Arcadia’s flagship brands include Nizoral®, a highly efficacious therapeutic dandruff shampoo brand, NATURELO®, a leader in premium vitamins and nutritional supplements, Kaopectate®, a leader in treatment of diarrhea and upset stomach, Fungi-Nail®, a specialty anti-fungal product formulated with a clinically proven ingredient that cures and prevents fungal infections, and Opti-NailTM, a new and unique cosmetic fungal nail repair brand. Additional portfolio brands include HC Max™, a maximum strength anti-fungal remedy, and Safetussin®, a pharmacist-developed cough relief solution for adults suffering from diabetes and/or high blood pressure. Arcadia Consumer Healthcare’s products are sold online and in over 60,000 stores nationwide, including major drug, food and mass merchandiser outlets. Learn more at www.arcadiach.com.
Daniel Yunger / Hallie Wolff
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SOURCE Avista Capital Partners