Cornwell Capital-backed Innovations in Nutrition + Wellness (INW) has bought manufacturer of health and wellness supplements, Capstone Nutrition, from Brightstar Capital Partners.
Founded in 1989, Capstone is a developer and manufacturer for wellness brands across the speciality health, functional food, immunity support and digestive health markets.
Headquartered at a 300,000-square-foot facility in Utah, the company formulates, develops and manufactures a variety of capsules, tablets and powder products.
Cornell Capital and affiliated investors acquired INW back in March 2021, with the aim of adding complementary businesses like Capstone to build a well-diversified integrated solutions provider in the modern health and wellness industry.
Capstone’s current CEO Jared Leishman has been named CEO of the combined company.
He said: “We are excited to join the INW family and accelerate growth by leveraging our innovative capabilities, operational flexibility and blue-chip customer relationships as part of this expanding global platform.
“Combining our two complementary businesses will continue to strengthen INW as a world-class turnkey service provider of differentiated products across the vitamins, minerals and supplements categories. I am confident that together we can enhance our position as a leading provider of innovative, customer-focused solutions for the modern health and wellness industry.”
Justine Cheng, partner at Cornell Capital, added: “Capstone’s expertise across a variety of product forms and ingredients, highly flexible infrastructure and 30-year history of quality and efficiency as a trusted brand partner are impressive.
“We look forward to partnering with Jared and the rest of Capstone’s experienced team to share best practices and drive continued growth at INW across an expanded operational and customer footprint.”
© FoodBev Media Ltd 2021
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