The transaction is expected to close during the third quarter of 2018.
| SALT LAKE CITY, July 30, 2018 /PRNewswire/ -- Zarbee’s Naturals, the leader in creating safe and effective over-the-counter products that parents feel good about giving to their families, today announced that it has agreed to be acquired by Johnson & Johnson Consumer Companies, Inc. Zarbee’s Naturals is majority owned by the Growth Fund of L Catterton in partnership with various minority owners including Sorenson Capital. The transaction is expected to close during the third quarter of 2018. Zarbee’s Naturals was founded in 2008, driven by a pediatrician’s quest for a drug-free children’s cough syrup. Over the last decade, Zarbee’s Naturals has grown into a broad-based health and wellness brand and has disrupted the cough, sleep, immune support and vitamin categories with its portfolio of natural, better-for-you products. The company has established itself as the number one pediatrician-recommended cough syrup brand for children 10 and under and continues to focus on creating wholesome wellness products for the entire family. “We are thrilled by the opportunity to further accelerate our growth as part of Johnson & Johnson Consumer,” said Bret Furio, Chief Executive Officer of Zarbee’s Naturals. “Over the past 10 years, Zarbee’s has attracted a passionate and loyal consumer following by using simple, natural ingredients and creating effective products for both kids and adults. We are deeply grateful for L Catterton’s partnership and support over the last seven years and for their support in helping us scale and strengthen our business, which enabled us to achieve this exciting milestone with Johnson & Johnson Consumer. I am confident that Johnson & Johnson Consumer will be a great home for both our brand and our people and we will continue to grow and succeed as we enter this exciting new chapter.” “When we partnered with Zarbee’s Naturals in 2011, we saw a great opportunity for the company to essentially build a new consumer category by becoming the leading, trusted, natural health & wellness OTC brand,” said Scott Dahnke, Global Co-CEO of L Catterton. “We are proud of the performance the company has achieved and of the remarkable platform that has been created under the leadership of Bret and his management team. This partnership drove roughly 15-fold organic revenue growth over the last seven years and generated exceptional returns for our investors. This transaction represents the culmination of a terrific partnership with Zarbee’s Naturals and a successful investment for L Catterton, and we are confident Zarbee’s Naturals will continue to grow and thrive for years to come as part of the Johnson & Johnson Consumer family of brands.” Houlihan Lokey is acting as financial advisor and Finn Dixon Herling is acting as legal advisor to Zarbee’s Naturals. About Zarbee’s Naturals About L Catterton About Sorenson Capital Contact Andi Rose / Andrew Squire View original content:http://www.prnewswire.com/news-releases/johnson--johnson-consumer-inc-to-acquire-zarbees-naturals-from-l-cattertons-growth-fund-300688321.html SOURCE Zarbee’s Naturals |
