San Francisco and New York – Swander Pace Capital, a leading private equity firm specializing in investments in consumer products companies, has completed its sale of Renew Life Formulas, Inc., a global leader in probiotics and other digestive care supplements, to Clorox Company for $290 million.
During Swander Pace’s partnership with Renew Life, the company has grown into the No. 1 brand of probiotics in the natural channel, with a rapidly growing share in the food, drug and mass channel.
“This sale to Clorox is the culmination of years of dedication to growing a company focused on improving lives through better digestive health,” said Corby Reese, managing director at Swander Pace. “Stan and Brenda Watson were decades ahead of the mainstream when they founded Renew Life, and the company has been instrumental in bringing probiotics and digestive health into much broader public awareness. We’re proud to have worked with the Renew Life team to build such a respected industry leader.”
“The Swander Pace team has been an incredible partner to help us reach new heights,” added Ron Fugate, Renew Life’s CEO. “Their guidance and operational expertise set us on a path for accelerated growth and allowed us to attract the interest of a new strategic partner with a tremendous track record in best-in-class consumer products.”
“We are grateful to Ron and his team for their partnership and trust over the last several years,” added Heather Smith Thorne, managing director at Swander Pace. “Together, we were able to build a recognized leading industry brand that is at the forefront of an exciting growth category. We’re looking forward to watching them continue to grow with their new partner and wish them the best on the road ahead.”
Rothschild acted as financial advisor to Swander Pace on the transaction.
About Swander Pace Capital
Swander Pace Capital is a leading private equity firm specializing in investments in growth-oriented, middle-market consumer products companies in North America and the United Kingdom. For the past 20 years, Swander Pace Capital has pursued a consistent strategy of investing in consumer products companies with leading market positions in attractive, defensible niches. With cumulative equity commitments of approximately $1.3 billion, and staff in San Francisco, New Jersey, and Ontario (Toronto), Swander Pace Capital provides portfolio companies with a unique mix of financial, strategic, and tactical support to create long-term value.
About Renew Life
A leader in Natural Digestive Care, Renew Life Formulas was founded in 1997 by Brenda and Stan Watson on the premise that vibrant, lasting health can only be achieved with a properly functioning digestive system. Renew Life offers a full spectrum of award-winning, digestive-care supplements and functional foods, formulated from the highest quality ingredients derived from nature, with no artificial ingredients. Renew Life stands behind the purity, potency, and efficacy of every product they develop, and their exceptional customer service, comprehensive educational programs, and superior manufacturing practices set the benchmark for others in the industry.