Private equity group North Castle Partners has announced that it has acquired a controlling interest in weight management group Atkins Nutritional Holdings.
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North Castle, which specialises in investments in healthy-living consumer products and services, said it had made the investment with co-investors and certain management team members. Financial details were not disclosed.
Atkins markets nutrition bars and ready-to-drink shakes under the Atkins Advantage brand, as well as better-for-you confectionery products under its Atkins Endulge brand. According to the compay, its products are currently sold through some 30,000 retail locations throughout the US.
“We are excited about the Atkins acquisition as our latest nutrition platform investment, particularly given its focus on the pervasive weight management industry and the increasing consumer interest in health and weight issues,” said North Castle’s founder and managing partner Chip Baird. “We believe that Atkins is a strong brand with tremendous opportunity for growth.”
North Castle also announced that Monty Sharma, formerly CEO of dietary supplements specialist EAS and Naked Juice, both former North Castle companies, is to become the CEO of Atkins with immediate effect. North Castle sold Naked Juice to PepsiCo in January 2007.
