GREEN BAY, Wis., Oct. 9 /PRNewswire/ -- Nature's Way Holding Company, a subsidiary of German-based Dr. Willmar Schwabe Pharmaceuticals, a leading worldwide producer of clinically proven phytomedicines, has reached agreement to acquire all outstanding shares of Enzymatic Therapy with North Castle Partners, LLC, the controlling shareholder of Enzymatic Therapy. The agreement is subject to other shareholders delivering their signatures and provides for customary conditions to closing.
The transaction was advised by Lincoln International, a leading mid-market investment bank, who acted as the exclusive financial advisor to Schwabe and Nature's Way, working directly with the Board of Directors and senior management teams of both companies.
The combination of these organizations brings together leading industry professionals across every business discipline and creates an unsurpassed portfolio of clinically validated natural products and ingredients.
Both Nature's Way and Enzymatic Therapy, Inc. have developed a very loyal and consistently growing base of customers, consumers, and patients, who enjoy the health benefits of the products every day.
Initial focus will be to further advance product development in bringing highly effective natural health solutions to market to elevate wellness for those critical health concerns of consumers.
The group will build upon the rich heritage and advanced research and development capabilities of each of the entities to create a new standard in natural health enhancement.
Dr. Willmar Schwabe Pharmaceuticals, headquartered in Karlsruhe, Germany, was founded in 1866. Today, the group is a world-class leader in the manufacturing of herbal medicines and comprises six companies in Germany and more than 20 subsidiaries and joint ventures around the world. For more than 140 years, Schwabe Pharmaceuticals has been dedicated to providing patients and health care professionals with clinically proven herbal medicines and natural health care solutions.
As a vertically integrated pharmaceutical company, Schwabe carefully controls the manufacturing process from growing and harvesting the plants to the production of the finished goods. Schwabe products are sold in over 60 countries world-wide.
Nature's Way was founded in 1968, and has improved the life of millions of consumers by bringing the healing power of nature through herbal formulations. Nature's Way is headquartered in Springville, Utah, and its products are sold throughout leading natural products retailers throughout the United States and in 40 other countries.
Enzymatic Therapy, Inc.'s heritage is rooted in four formerly separate natural medicine companies, each of which was founded over a period from 1975 to 1986, and each of which was merged to create the company as it exists today, by North Castle Partners, LLC in 2000. Enzymatic Therapy products are sold throughout leading natural products retailers, medical clinics, and in 15 countries outside the United States.
North Castle Partners, LLC is a Private Equity Firm that invests in healthy living and healthy aging related companies, and has had a very successful track record of assisting natural products companies in creating sustainable growth platforms.
Dr. Dirk Reischig, Chairman and CEO of Schwabe: "We are very delighted that Enzymatic Therapy, Inc. joins the Schwabe group of companies. We do believe that the complementary product portfolios and marketing know-how of Enzymatic Therapy and Nature's Way will significantly strengthen our presence in the US market, which is one of Schwabe's strategic key markets for future growth. Natural health care solutions will become increasingly important over the next few decades. The joined forces of Enzymatic Therapy, Nature's Way and Schwabe will therefore contribute significantly to consumers in the USA and abroad in achieving the best possible health and quality of life."
Rory Mahony, CEO of Nature's Way: "We look forward to leveraging the knowledge and expertise resident in our companies and to further enhance the significant business growth that both Nature's Way and Enzymatic Therapy have enjoyed over the past several years. We believe the dedication of the companies to the development of quality products will benefit our customers in many ways."
Randy Rose, CEO of ETI: "We are very pleased to align with Nature's Way
and Dr. Willmar Schwabe Pharmaceuticals in elevating the health and well
being of consumers and patients by combining the very best know how of each
of the companies. The highly ethical approach to delivering true natural
medicines that improve lives is a consistent core value for all three
entities and we look forward to advancing the natural health care solutions
for the benefit of all."
Nature's Way Products, Inc. Enzymatic Therapy, Inc.
1375 N. Mountain Springs Parkway 825 Challenger Drive
Springville, UT 84663 Green Bay, WI 54311
|SOURCE Enzymatic Therapy, Inc.|
Copyright©2008 PR Newswire.
All rights reserved