Unilever has signed an agreement to acquire SmartyPants Vitamins, a US-based vitamin, mineral, and supplement company.
WHO: SmartyPants Vitamins was founded in 2011 by entrepreneurs Courtney Nichols Gould and Gordon Gould, who set out to create a comprehensive supplement made from premium ingredients to support the well-being needs of children and adults. SmartyPants Vitamins has a simple yet powerful promise: to be smart, simple, and true. Its vitamins are made with non‐GMO-certified ingredients and a range of sustainably sourced bioavailable nutrients and are free from synthetic colors, artificial flavors, sweeteners, and preservatives.
Dutch conglomerate Unilever PLC was incorporated on June 21, 1894. The company’s segments include personal care, foods, home care, and refreshments. The company operates in more than 100 countries, selling its products in more than 190 countries. Unilever owns more than 400 brands including 11 “billion-dollar brands.”
IN THEIR OWN WORDS: Peter Ter Kulve, President of Health & Wellbeing at Unilever, said: “SmartyPants Vitamins complements Unilever’s portfolio of brands (Horlicks, OLLY, Equilibra and Liquid I.V.) in the functional nutrition and supplement segment. We are excited to work with co-founders Courtney and Gordon and their team to grow their innovative and data-driven business model.”
Fabian Garcia, President of Unilever North America, said: “We are delighted to welcome SmartyPants Vitamins to the Unilever family and our portfolio of purpose-led brands. SmartyPants Vitamins aligns strongly with our mission to improve the health and wellbeing of consumers and empower people to take charge of their health with solutions they can understand and trust.”
Courtney Nichols Gould & Gordon Gould, co-founders and co-CEOs of SmartyPants Vitamins, said: “From the start, SmartyPants Vitamins has been about family, authenticity and a core commitment to our collective well-being. We are excited to work with Unilever to grow the SmartyPants brand.”
- The terms of the deal were not disclosed.
- In partnership with Vitamin Angels, SmartyPants Vitamins has reached over 14 million mothers and children worldwide with nutrient grants, with a goal of reaching 100 million by 2025.
- SmartyPants Vitamins is distributed in more than 30,000 stores across the country including the world’s leading specialty, club, and online retailers including Amazon, Costco, Target, Walmart, Whole Foods Market, Walgreens, and many more.
- In April 2019 Balance Point Capital, in conjunction with its affiliated funds, Balance Point Capital Partners II, L.P. and Balance Point Capital Partners III, L.P., invested in SmartyPants, providing growth capital to facilitate a refinancing of the existing capital structure.
- In 2015 CircleUp Growth Fund provided a co-investment alongside North Castle Partners.
- In 2013 the business raised $2.59 million from both current and new investors after partnering with investment group CircleUp.
- Last September Unilever added Liquid I.V. and in 2019 acquired Olly Nutrition to its functional nutrition and supplement segment.
Photos: via SmartyPants