M&A Deal Summary

HGGC and Snapdragon Capital Partners Acquire Better Being

On May 22, 2017, private equity firm HGGC and growth capital firm Snapdragon Capital Partners acquired consumer products company Better Being for 446M USD

Acquisition Highlights
  • This is HGGC’s 3rd and Snapdragon Capital Partners’ 1st transaction in the Consumer Products sector.
  • This is HGGC’s 4th and Snapdragon Capital Partners’ largest (disclosed) transaction.
  • This is HGGC’s 24th and Snapdragon Capital Partners’ 1st transaction in the United States.
  • This is HGGC’s 7th and Snapdragon Capital Partners’ 1st transaction in California.

M&A Deal Summary

Date 2017-05-22
Target Better Being
Sector Consumer Products
Buyer(s) HGGC
Snapdragon Capital Partners
Deal Type Going Private
Deal Value 446M USD
Advisor(s) Solomon Partners (Financial)
Paul, Weiss, Rifkind, Wharton & Garrison (Legal)

Target

Better Being

Palo Alto, California, United States
Better Being is a whole-body wellness enterprise that develops, manufactures, markets and distributes trusted and beneficial vitamins, supplements, minerals and personal care products through a portfolio of differentiated brands. Better Being was founded in 1993 and is based in Palo Alto, California.

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Buyer(S) 2

Buyer

HGGC

Palo Alto, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2007
PE ASSETS 6.9B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HGGC (formerly Huntsman Gay Global Capital) focuses on middle-market leveraged buyouts, growth equity financings, recapitalizations, take privates, and corporate divestitures. The Firm primarily targets North American companies, but will consider international opportunities as well. HGGC looks for companies with at least $100 million in revenue. HGGC primarily targets enterprise software companies, however, the Firm will also consider opportunities in business services, consumer services, financial services, healthcare, industrial services, and information services. HGGC was formed in 2007 and is based in Palo Alto, California.


DEAL STATS #
Overall 28 of 46
Sector (Consumer Products) 3 of 3
Type (Going Private) 1 of 3
State (California) 7 of 10
Country (United States) 24 of 40
Year (2017) 3 of 4
Size (of disclosed) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-09 Aventri

Norwalk, Connecticut, United States

Aventri is a provider of cloud-based analytics and data-driven end-to-end event management and venue sourcing solutions. Open-source platform delivers innovative technology solutions to streamline the event process, providing real-time data and analytics on event performance, customer engagement, and increasing measurable event ROI. Aventri was formed in 2008 and is based in Norwalk, Connecticut.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-31 MaMa Rosa s Pizza

Sidney, Ohio, United States

MaMa Rosa's Pizza LLC is a provider of refrigerated pizza products under the Mama Angelina’s, Old Italian and Lean Lifestyle brands. MaMa Rosa’s sells refrigerated pizza’s–not frozen, can be found in the deli/meat or dairy section of a grocery store.

Sell -
DESCRIPTION

Snapdragon Capital Partners is a private investment firm focused on growth-oriented companies in the consumer sector. Specific areas of interest include health/wellness, consumer services, and health services. The Firm looks to commit $40 to $200 million per transaction and will consider opportunities throughout the US. Snapdragon Capital Partners is headquartered in Riverside, Connecticut.


DEAL STATS #
Overall 1 of 2
Sector (Consumer Products) 1 of 1
Type (Going Private) 1 of 1
State (California) 1 of 1
Country (United States) 1 of 1
Year (2017) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-09 Fullscript

Ottawa, Ontario, Canada

Fullscript is a free online supplement dispensary & patient adherence tool that supports practitioners & the wellness of patients at the point of care and beyond. The company helps automate refills and strengthen patient relationships from any device or even within the client's EHR. It also supports practices beyond the point of care. Adherence-boosting tools, automated marketing support, and curated patient wellness content will keep patients on track and practice top-of-mind. Fullscript was formed in 2011 and is based in Ottawa, Ontario.

Buy -