Levine Leichtman Capital Partners (“LLCP”) announced today the closing of the sale of Santa Cruz Nutritionals (“SCN” or the “Company”) to RoundTable Healthcare Partners (“RoundTable”).
SCN, based in Santa Cruz, CA, is a leading innovator and manufacturer of gummy-based vitamins, minerals, supplements (“VMS”) and other nutritional products for consumers of all ages. Through its proprietary formulations and unique manufacturing processes, SCN is able to deliver active ingredients through great-tasting, high quality chewable products. The Company has established itself as a dominant player in all of its core markets and maintains longstanding relationships with many of the leading retailers and consumer product companies in the world.
Lauren Leichtman, CEO of LLCP, said, “Our investment in SCN has been extremely successful for LLCP, our partners and the Company’s management team, providing a case study of our ability to work with exceptional management teams in the middle market to help grow their businesses. SCN’s growth has significantly exceeded our original expectations from when we made our investment in the Company almost three years ago. We have been thrilled to be a value-added partner to Mike Westhusing, Randy Bridges and the rest of the SCN management team and are happy that they have found the right group, in RoundTable, to support their next phase of growth.” Mike Westhusing said, “LLCP has been a true partner in helping us grow the Company into an industry-leading, world-class organization over the last few years. While we’re excited about our future with RoundTable, we’re sad to see our partnership with LLCP come to an end.”
Houlihan Lokey and BMO Capital Markets served as financial advisors to SCN in connection with the sale.