Leite served as The Vitamin Shoppe’s CEO from 2018 to 2023 before leaving to take on the role as CEO at Ideal Image, a chain of med spas. She later became CEO of Omni Retail Enterprises, the parent company of brands operating e-commerce including Bodybuilding.com.
“After an incredibly rewarding and successful four and a half years in the business, I am thrilled to return to The Vitamin Shoppe,” Leite said.
“We are primed for an exciting new era of expansion. I look forward to collaborating with the board, management team, vendor partners and our dedicated health enthusiasts as we build a world-class health and wellness platform that delivers an unparalleled experience to our customers.”
According to Kingswood Capital Management and Performance Investment Partners, the rest of the executive leadership team, including President Muriel Gonzalez, remain in place.
The Vitamin Shoppe also named Alex Smith and Beth Kaplan to the company board.
Smith is a Kingswood operating partner and current executive chairman of one of the firm’s portfolio companies, specialty retailer World Market. His background includes serving as executive chairman and then chairman at The Vitamin Shoppe.
Most recently, Kaplan served as president and chief operating officer of Rent The Runway. Prior to that, she was president, chief merchandising & marketing officer and director at GNC.
Wright says goodbye
On May 16, Lee Wright, who joined The Vitamin Shoppe as CEO in 2023, shared on LinkedIn that he would be leaving his post.
Wright, who often documented his visits to various stores across the country, posted that he embraced the company’s mission, was inspired by the health enthusiasts and even lost over 35 pounds during his tenure.
He also cited some of the many challenges he took on during that time, including a post-COVID drop in immunity supplements, supply chain constraints and the Chapter 11 bankruptcy filed by The Vitamin Shoppe’s parent company, Franchise Group, in November.
In his usual upbeat demeanor, Wright ended on an optimistic note by saying he is proud of the team’s accomplishments.
“As I move on to see what the next chapter of my career brings, I’ll be cheering all of the health enthusiasts on from afar,” he wrote. “Stay healthy and be well!”
The acquisition
In April, Kingswood Capital Management and Performance Investment Partners announced an agreement through which an affiliate would acquire The Vitamin Shoppe from the Franchise Group, which filed for bankruptcy six months earlier.
Financial terms of the acquisition, which was completed this week, were not disclosed by the firms, however Bloomberg Law previously reported the transaction’s value at $193.5 million.
“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 shared 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.”
