Private equity firm acquires Nutrition 21 as base of new functional ingredients platform
The new platform, called Everwell Health, will be built around Nutrition 21, which markets an array of functional ingredients aimed at sports nutrition, weight management, skin health and other indications.
Nutraingredients-USA award winner
One of its most recent offerings, branded as NooLVL, is a nootropic ingredient that targets the rapidly emerging esports sector. NooLVL received NutraIngredients-USA’s award as Sports Nutrition Ingredient of the Year in 2020.
Roundtable lists mostly pharmaceutical and medical device companies among its sizable investment portfolio, which the company says now amounts to $3.45 billion in ‘committed capital.’
Nutrition 21 will form the basis of Everwell Health, but the RoundTable statement made it clear that’s only the beginning.
“Everwell Health will actively pursue partnerships and business development opportunities with additional functional ingredient companies, and will focus on amplifying investments in clinical studies, new product development, marketing and sales,” the statement said.
RoundTable also lists gummy contract manufacturer Santa Cruz Nutritionals as a portfolio company, but that will apparently not be part of the Everwell platform.
CEO appointed for Everwell
RoundTable has appointed Steve Rosenman as the new CEO of Everwell Health. Rosenman was until recently the senior vice president at International Vitamin Corporation and serves on the board of directors of contract manufacturer Lief Labs.
"I am excited to join Everwell and partner with Nutrition21 to build this new platform," Rosenman said. “With a long and rich history of combining ingredient innovation with strong clinical studies and IP, Nutrition21 provides a strong foundation for future growth. I look forward to working with Joe Weiss and the entire Nutrition21 team.”
“I look forward to partnering with Steve and the RoundTable team to accelerate Nutrition21’s growth and help Everwell become a leading platform across the entire functional ingredients market,” said Weiss, who is Nutrition 21’s CEO.
Details of the transaction were not disclosed.
Sports & Active Nutrition Summit 2022
Nutrition 21 will take part in NutraIngredients-USA's Sports & Active Nutrition Summit 2022, which returns this coming year as a face-to-face event. The event is scheduled for Feb. 14-16 in San Diego, CA. For more information and to sign up for an early bird discount, visit the event homepage.
