Wind Point Partners acquires FoodScience Corporation

Wind Point Partners, a Chicago-based private equity firm, acquired pet food ingredient maker FoodScience Corporation, a Vermont-based formulator, manufacturer and marketer of nutritional supplements for humans and pets.

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Adapted from a press release:

Wind Point Partners, a Chicago-based private equity firm, acquired pet food ingredient maker FoodScience Corporation, a Vermont-based formulator, manufacturer and marketer of nutritional supplements for humans and pets. FoodScience was founded in 1973 by Guido and Maria Orlandi and has since remained in the family under Claudia Orlandi’s ownership. The Company offers a portfolio of nutritional supplements through its brands VetriScience, DaVinci and Pet Naturals, as well as private label and custom formulation offerings.

In 2018, Wind Point Partners and portfolio company Pestell Group acquired Targeted Pet Treats. TPT, founded in 2000 and headquartered in Warren, PA, is a co-manufacturer of dental treats and long-lasting chews for pets.

More on FoodScience acquisition

Wind Point will be partnering with FoodScience management and incumbent CEO Sharon Rossi, who joined the Company in 2017. Ms. Rossi has experience leading companies in the consumer products industry. Prior to joining FoodScience, Rossi served as chief customer officer at Coty, Inc., which followed her role as general manager of the consumer lifestyle division at Philips and a 16-year career with Unilever, where she was responsible for leading its customer marketing and channel operations among other roles.

“Wind Point’s investment team understands consumer goods, the pet industry and the supplement industry, and is experienced in both retail and e-commerce channels,” Rossi said in a press release. “FoodScience and Wind Point share values such as commitment to community and affirming corporate culture. I am optimistic about this investment; it is a win for our customers, employees and Vermont neighbors.”

Advising Wind Point on the transaction were executives Katie Doyle, Chris Hornung, and Bob Shipley, all of whom have joined FoodScience’s board of directors. Doyle, who will serve as FoodScience’s board chair, brings extensive leadership experience in the nutritional supplements industry, as well as in direct-to-consumer and health care practitioner channels from her previous roles as CEO of Swanson Health Products and president of Abbott Nutrition, U.S. Hornung founded and served as CEO of Pacific Cycle, a former Wind Point III portfolio company. This represents the third partnership between Wind Point and Hornung, who is also a member of the firm’s executive advisor partner program. Shipley most recently served as CEO of FoodScience before transitioning to an advisory role.

“FoodScience is a very strong competitor in the human supplements market with its long history of quality, efficacy and safety,” Paul Peterson, managing director at Wind Point, said in a press release. “It is a pioneer in the animal health industry, formulating animal supplements and treats. The FoodScience brand portfolio, reputation, manufacturing assets and approach to research are compelling. Amidst changing consumer buying behavior and elevated focus on health and wellness, FoodScience is well-positioned to capitalize on the acceleration of eCommerce and growth in human and pet nutritional supplements. We look forward to working with Sharon and the entire FoodScience team in further building the brands and private label business to execute on our value creation plan.”

FoodScience represents Wind Point’s fifth platform acquisition of a family or entrepreneur-owned business in the last 18 months, continuing the firm’s decades-long history of partnering with founders and entrepreneurs to drive further growth and transformation. Wind Point has also been a longtime investor in the consumer and pet products industries, with select current and prior investments including Targeted PetCare, Petmate, Pestell Nutrition, Tropicale Foods, Stir Foods, Evans Food Group, Shearer’s Foods, Voyant Beauty, and Radienz Living (fka U.S. Nonwovens).

 

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