Los Angeles, CA—Kingswood Capital Management and Performance Investment Partners have completed their acquisition of The Vitamin Shoppe from Franchise Group, Inc. Sharon Leite, who served as Chief Executive Officer of the retail chain from 2018 to 2023, has returned to lead the Company as its CEO, ant the rest of the executive leadership team remains in place.
“After an incredibly rewarding and successful four and a half years in the business, I am thrilled to return to The Vitamin Shoppe,” said Leite. “With the invaluable support of our partners at Kingswood and PIP—leaders in building brands and driving growth in omnichannel retail—we are primed for an exciting new era of expansion. I look forward to collaborating with the board, management team, vendor partners, and our dedicated Health Enthusiasts as we build a world-class health and wellness platform that delivers an unparalleled experience to our customers.”
Upon closing of the deal, Leite is joined by representatives from Kingswood and PIP on the Company’s board. Alex Smith is a Kingswood operating partner and the current Executive Chairman of Kingswood portfolio company, World Market, who previously served as Executive Chairman and then Chairman of The Vitamin Shoppe. Beth Kaplan is an experienced operator, advisor, and investor in the consumer sector who serves as the President and Chief Operating Officer of Rent The Runway as well as President, Chief Merchandising and Marketing Officer, and Director of General Nutrition Centers (GNC).
“We are thrilled to be able to partner with Sharon, Alex, Beth, and the entire team at The Vitamin Shoppe,” said Kingswood Partner Michael Niegsch and PIP Partner Mark Genender, in the announcement. “We look forward to investing in a variety of brand-building strategies, including further supporting the Health Enthusiasts in running great stores, enhancing the company’s digital marketing and e-commerce capabilities, innovating the private brand portfolio, and working with existing and emerging third-party brands to be the best distribution partner in the market.”
Assisting in the acquisition: Jefferies LLC served as exclusive financial advisor to Kingswood and PIP and McDermott Will & Emery LLP and Sidley Austin LLP served as legal counsel. Ducera Partners LLC served as financial advisor and Kirkland & Ellis LLP served as legal counsel to FRG.
