Sale Of The Vitamin Shoppe Complete
The acquisition of The Vitamin Shoppe by two private equity firms is complete, and the retailer’s former CEO, Sharon Leite, is returning to run the company.
Kingswood Capital Management and Performance Investment Partners, LLC (PIP), purchased the health and wellness-focused retailer from The Franchise Group, Inc.
"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, who previously served as CEO from 2018 to 2023. "With the invaluable support of our partners at Kingswood and PIP, we are primed for an exciting new era of expansion."
Headquartered in Secaucus, N.J., The Vitamin Shoppe operates more than 635 stores under The Vitamin Shoppe and Super Supplements banners along with its website. Its assortment features a selection of owned brands, including The Vitamin Shoppe, Vthrive The Vitamin Shoppe, BodyTech, BodyTech Elite, plnt, ProBioCare, and True Athlete.
Upon completion of the acquisition, Alex Smith and Beth Kaplan joined Leite and representatives from Kingswood and PIP on the company’s board. Smith is a Kingswood operating partner and the current executive chairman of Kingswood’s portfolio company, World Market. Previously, he served as executive chairman and later chairman of The Vitamin Shoppe, served as CEO of Pier 1 Imports, and held numerous senior management positions at The TJX Companies.
Kaplan most recently was president and chief operating officer of Rent The Runway. Previously, she served as president, chief merchandising and marketing officer, and director of General Nutrition Centers (GNC). Before joining GNC, Kaplan held leadership positions within Bath & Body Works, Rite Aid, and Procter & Gamble.
"We are thrilled to be able to partner with Sharon, Alex, Beth, and the entire team at The Vitamin Shoppe,” Kingswood Partner Michael Niegsch and PIP Partner Mark Genender said in a joint statement. “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.”
