New York, Jan 22 — Grant Avenue Capital, LLC (“Grant Avenue”), a healthcare-focused, middle-market private equity firm, today announced the acquisition of 21st Century Healthcare, Inc. (“21st Century” or the “Company”), a leading provider of vitamins, minerals, and supplements (“VMS”) for both humans and pets. Terms of the transaction were not disclosed.
Founded in 1991, 21st Century manufactures and distributes a broad portfolio of VMS products across in-house brands – including Alaska Wild®, Arthri-Flex Advantage®, ImmuBlast®, Herbal Slimming Tea®, VitaJoy® and Zoo Friends® – as well as national brand equivalents and private label offerings. Guided by its mission to improve the health and well-being of individuals, families, and communities worldwide, 21st Century has demonstrated a strong track record of innovation while maintaining rigorous quality and safety standards.
Grant Avenue is partnering with Kirk Neal, 21st Century President and Chief Executive Officer, and his entire team of dedicated professionals, to build on the Company’s position as a trusted partner within the dietary supplements industry by expanding its product portfolio and scaling its operations. Grant Avenue Acceleration Partner Dave Meadows, former President of the Drug Substance Contract Development and Manufacturing Organization division at Cambrex, will join the 21st Century Board of Directors.
“This partnership marks an exciting new chapter for 21st Century and further validates our over 30-year commitment to quality and innovation,” said Mr. Neal. “Grant Avenue’s deep healthcare knowledge, industry network, and operational capabilities will enable us to strengthen our manufacturing footprint, broaden our product offerings, and enhance our contract manufacturing capabilities, while allowing our team to maintain the high quality, best-in-class service our customers expect and trust.”
Alex Ferree, Principal at Grant Avenue, added, “We see a compelling opportunity to build upon 21st Century’s strong momentum by expanding its market reach across both e-commerce and retail channels. As the Company continues to deepen its relationships with customers and partners, and deliver accessible, high-quality wellness products, we look forward to partnering with the 21st Century team to support its next phase of growth.”
Grant Avenue was advised by Lincoln International as lead debt advisor and McGuireWoods LLP as legal counsel.