Bettera Brands, a portfolio company of private investment firm Highlander Partners, has announced its acquisition of Nutravail.
Headquartered in Virginia, Nutravail develops and manufactures health and wellness food products in proprietary soft chew formats.
The company has patented low-temperature processing technology which reportedly enables the incorporation of virtually any nutraceutical ingredient into the soft chew format, while preserving its benefits.
Bettera develops and manufactures vitamins, minerals and nutritional products in gummy and hard lozenge forms.
According to Highlander Partners, this acquisition enables Bettera to offer the ‘full spectrum’ of confectionery formats to its customers, including chewables, and to accelerate growth with new customer opportunities.
Nutravail’s CEO Richard O’Neil will serve post-acquisition as president of the Nutravail division within Bettera.
Commenting on the deal, O’Neil said: “Nutravail has found the ideal partner in Bettera Brands. We are completely like-minded in our approach to working closely and collaboratively with our customers through the complexities of formulation, and in our commitment to service and quality.
“We look forward to sharing our product set with Bettera’s customers and introducing Bettera’s extensive capabilities to ours.”
Jeff Partridge, Bettera’s chairman and CEO (and a managing director at Highlander), added: “We are very excited to have Rick and his team as part of the Bettera family.
“Nutravail’s chewable capabilities will dramatically enhance our product offerings to our combined customers, which makes our importance to the wellness industry even more pervasive.”
The financial terms of the transaction have not been disclosed.
© FoodBev Media Ltd 2020