M&A Deal Summary

Johnson & Johnson Acquires Zarbee s

On July 30, 2018, Johnson & Johnson acquired life science company Zarbee s from L Catterton Partners and Sorenson Capital

Acquisition Highlights
  • This is Johnson & Johnson’s 13th transaction in the Life Science sector.
  • This is Johnson & Johnson’s 31st transaction in the United States.
  • This is Johnson & Johnson’s 1st transaction in Utah.

M&A Deal Summary

Date 2018-07-30
Target Zarbee s
Sector Life Science
Buyer(s) Johnson & Johnson
Sellers(s) L Catterton Partners
Sorenson Capital
Deal Type Add-on Acquisition
Advisor(s) Houlihan Lokey (Financial)
Finn Dixon & Herling (Legal)

Target

Zarbee s

South Jordan, Utah, United States
Zarbee's, Inc. is a manufacturer of natural OTC medicines for a wide variety of common ailments as well as immunity boosting products. Zarbee's, Inc. was founded in 2008 and is based in South Jordan, Utah.

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Buyer(S) 1

Buyer

Johnson & Johnson

New Brunswick, New Jersey, United States

Category Company
Founded 1886
Sector Consumer Products
Employees132,000
Revenue 85.2B USD (2023)
DESCRIPTION
Johnson & Johnson's corporate headquarters in New Brunswick, New Jersey.
Johnson & Johnson's corporate headquarters in New Brunswick, New Jersey.

Johnson & Johnson is a global healthcare conglomerate that operates across three primary sectors: Pharmaceuticals, Medical Devices, and Consumer Health. In Pharmaceuticals, it develops treatments for a variety of conditions, including immunology, oncology, and infectious diseases. The Medical Devices segment offers a range of equipment and devices for healthcare professionals, encompassing orthopedics, surgery, and cardiovascular care. Its Consumer Health division markets a wide array of products, spanning baby care, oral care, skin care, over-the-counter drugs, and women's health, with popular brands such as Band-Aid, Tylenol, and Neutrogena under its umbrella. Johnson & Johnson was formed in 1886 and is based in New Brunswick, New Jersey.


DEAL STATS #
Overall 37 of 45
Sector (Life Science) 13 of 18
Type (Add-on Acquisition) 29 of 36
State (Utah) 1 of 1
Country (United States) 31 of 37
Year (2018) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-11 C-SATS

Seattle, Washington, United States

C-SATS, Inc. is a subscription based and enables surgeons to upload surgical videos for assessment by expert surgeons and trained reviewers who provide objective and confidential feedback on technical skills. C-SATS, Inc. was founded in 2014 and is based in Seattle, Washington.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-23 Ci:z Holdings

Tokyo, Japan

Ci:z Holdings Co. Ltd. is a Japanese company focused on the marketing, development and distribution of a broad range of dermocosmetic, cosmetic and skincare products.

Buy ¥230.0B

Seller(S) 2

SELLER

L Catterton Partners

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1989
PE ASSETS 30.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

L Catterton is a private equity firm that targets investments in consumer-related companies located throughout North America. L Catterton looks for businesses with identifiable brands and operating in 'defensible and extensible' positions within growth industry segments. Specific sectors of interest include branded consumables, food/beverages, consumer services, restaurants, media and marketing, household durables, specialty retail, mass merchant retail, and luxury/apparel. Prospective transactions include management buyouts, recapitalizations, turnarounds, and growth financings. L Catterton was formed in 1990 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 54 of 102
Sector (Life Science) 1 of 1
Type (Add-on Acquisition) 22 of 46
State (Utah) 2 of 3
Country (United States) 48 of 76
Year (2018) 6 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-25 ClassPass

New York, New York, United States

ClassPass connects members to a variety of fitness experiences, including yoga, cycling, pilates, barre, running, strength training, dance, sports, videos, and more with over 10,000 partners in 50 cities worldwide. ClassPass was formed in 2013 and is based in New York City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-26 Pure Barre

Denver, Colorado, United States

Pure Barre is a franchisor of barre technique workout studios, offering an effective and non-impact total body workout as well as selling apparel, equipment, and accessories through its studios and website. Pure Barre was founded in 2001 and is based in Denver, Colorado.

Sell -
SELLER

Sorenson Capital

Lehi, Utah, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2003
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Sorenson Capital is a private equity firm that seeks to support buyout and growth capital financings of lower middle-market companies. Sorenson invests across a broad range of industries and generally pursues companies with significant market share, high barriers to entry, fragmented industry competition, motivated managment, and sustainable pricing and profit margins. Target businesses typically have sales of $30 to $300 million with earnings of $3 to $25 million. Sorenson's geographic preference is for opportunities in the Mountain West and West Coast regions of the US. Sorenson raised its inaugural fund in 2004 and is based in Salt Lake City, Utah.


DEAL STATS #
Overall 17 of 29
Sector (Life Science) 1 of 1
Type (Add-on Acquisition) 10 of 16
State (Utah) 9 of 13
Country (United States) 16 of 28
Year (2018) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-17 Pluralsight

Draper, Utah, United States

Pluralsight is a provider of technical skill development solutions. The Company's cloud-based technology learning platform provides a broad range of tools, including skill assessments, a curated library of courses, learning paths, and business analytics. Pluralsight was formed in 2004 and is based in Draper, Utah.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-01 NS8

Las Vegas, Nevada, United States

NS8 is a comprehensive fraud prevention platform that combines behavioral analytics, real-time scoring, and global monitoring to help businesses minimize risk. NS8 also offers supplemental data through third-party extensions as well as seamless integrations with industry-leading ecommerce platforms that enable businesses to begin fighting fraud within minutes. NS8 was founded in 2016 and is based in Las Vegas, Nevada.

Buy -