|
MidOcean Partners Acquires Majority Stake in Vitaquest International -- Leading Supplier of Specialty Nutritional Products Poised for Growth
NEW YORK, NY, March 17, 2005 - MidOcean Partners, a middle market private equity firm with significant experience investing in
consumer product companies, announced today that it has acquired a majority stake in Vitaquest International (“Vitaquest”), the
leading value-added custom contract manufacturer, marketer and multi-channel distributor of specialty nutritional products in the United States.
Based in New Jersey, Vitaquest is a recognized leader in product innovation, quality and value-added services.
“Vitaquest is uniquely positioned to take advantage of the significant growth opportunities in the nutraceutical and personal care industries,”
said Rob Sharp, a Managing Director with MidOcean Partners. “We have spent a lot of time looking at the trends in outsourced manufacturing and
we believe that Vitaquest, with its focus on highly customized products and customer service, is a unique platform to take advantage of long term
growth trends.”
Ted Virtue, CEO of MidOcean Partners said “Keith Frankel and his team at Vitaquest have built a unique company that delivers superior services
to its customers with an emphasis on quality and efficacy. Keith has been integral to Vitaquest’s growth and success over the past 18 years and
we are proud to partner with him to take Vitaquest to the next level.”
Keith Frankel, President and CEO of Vitaquest commented “I have had a long relationship with Ted Virtue and am excited to continue to build my
business with MidOcean’s support. MidOcean has significant prior experience in the consumer packaged goods and contract manufacturing spaces which
will be critical as we expand our operations and product offerings.”
About MidOcean Partners
MidOcean Partners is a New York and London based private equity firm that invests in the United States and Europe. Targeted sectors include
consumer and leisure, media and communications, business services, financial services and industrial sectors. MidOcean was formed in 2003
as part of the $1.6 billion management buyout of Deutsche Bank’s later stage private equity assets in the United States and Europe.
Mr. Virtue and Graham Clempson, Head of MidOcean’s European business, led the buyout. For more information, visit www.midoceanpartners.com.
|
 |
|