By Abigail Summerville NEW YORK (Reuters) -Private equity firm RoundTable Healthcare Partners is exploring a sale of vitamins manufacturer SCN BestCo, according to four people familiar with the matter. The company, formerly known as Santa Cruz Nutritionals, is working with investment bank Moelis & Co on the sale process, which is in the early stages, […]
Health
SCN BestCo’s owner explores sale of vitamins maker, sources say
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By Abigail Summerville
NEW YORK (Reuters) -Private equity firm RoundTable Healthcare Partners is exploring a sale of vitamins manufacturer SCN BestCo, according to four people familiar with the matter.
The company, formerly known as Santa Cruz Nutritionals, is working with investment bank Moelis & Co on the sale process, which is in the early stages, the people said, asking not to be identified because the sale process is confidential.
Moelis declined to comment. RoundTable and SCN BestCo did not immediately respond to requests for comment.
The Santa Cruz, California-based company generates around $150 million in annual earnings before interest, taxes, depreciation and amortization and is approaching $700 million in annual revenue, the sources said.
Demand for vitamins, minerals and supplements has taken off in recent years with several new brands launching. Founded in 1968, SCN BestCo partners with consumer brands and national retailers to develop gummies, lozenges, soft chews, and other types of vitamins.
RoundTable acquired SCN BestCo back in 2013. The firm invests in the healthcare sector and has raised $4.25 billion in committed capital since it launched in 2001.
(Reporting by Abigail Summerville in New York; Editing by Chizu Nomiyama)