M&A Deal Summary

The Clorox Acquires ReNew Life Formulas

On May 3, 2016, The Clorox acquired consumer products company ReNew Life Formulas from Swander Pace Capital and Triangle Capital for 290M USD

Acquisition Highlights
  • This is The Clorox’s 4th transaction in the Consumer Products sector.
  • This is The Clorox’s 4th largest (disclosed) transaction.
  • This is The Clorox’s 7th transaction in the United States.
  • This is The Clorox’s 2nd transaction in Florida.

M&A Deal Summary

Date 2016-05-03
Target ReNew Life Formulas
Sector Consumer Products
Buyer(s) The Clorox
Sellers(s) Swander Pace Capital
Triangle Capital
Deal Type Add-on Acquisition
Deal Value 290M USD

Target

ReNew Life Formulas

Palm Harbor, Florida, United States
ReNew Life Formulas, Inc. is a natural digestive care company. ReNew Life a major brand in dietary health, with an emphasis on digestive health. Renew Life is the No. 1 brand of probiotics in the natural channel,1 with a steadily growing share in the food, drug, and mass channel.

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Buyer(S) 1

Buyer

The Clorox

Oakland, California, United States

Category Company
Founded 1913
Sector Consumer Products
Employees8,100
Revenue 7.4B USD (2023)
DESCRIPTION
Entrance to The Clorox Co.'s corporate headquarters in downtown Oakland, California.
Entrance to The Clorox Co.'s corporate headquarters in downtown Oakland, California.

The Clorox is a multinational manufacturer and marketer of consumer and professional products. Clorox sells its products primarily through mass retail outlets, e-commerce channels, distributors, and medical supply providers. Clorox's brands includes its namesake bleach and cleaning products, Kingsford charcoal, Pine-Sol cleaners, Liquid-Plumr, Poett home care products, Fresh Step cat litter, Glad bags, wraps and containers, Hidden Valley and KC Masterpiece dressings and sauces, Brita water-filtration products and Burt’s Bees natural personal care products. The Company also markets brands for professional services, including Clorox Healthcare and Dispatch infection control products for the healthcare industry. The Clorox was founded in 1913 and is based in Oakland, California.


DEAL STATS #
Overall 7 of 8
Sector (Consumer Products) 4 of 5
Type (Add-on Acquisition) 6 of 7
State (Florida) 2 of 3
Country (United States) 7 of 8
Year (2016) 1 of 1
Size (of disclosed) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-05 Healthlink

Jacksonville, Florida, United States

Healthlink, Inc., is a medical product manufacturer located in Jacksonville, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-22 Aplicare

Meriden, Connecticut, United States

Aplicare specializes in developing and manufacturing different forms of products for helping prevent skin infection from needles or surgery. The company sells its products to hospitals and to other companies that create kits for use by health care facilities.

Sell -

Seller(S) 2

SELLER

Swander Pace Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1996
PE ASSETS 1.8B USD
Size Large
Type Sector Focused
DESCRIPTION

Swander Pace Capital (SPC) is a private equity firm focused on investing in North American middle-market consumer products companies. SPC looks for companies exhibiting strong growth potential and sales of up to $500 million. Specific areas of interest include food/beverage, household products, health living, packaging, personal care, pet products, sporting goods, specialty apparel, and specialty distribution. Prospective investment situations include management-led buyouts, consolidations, divestitures, turnarounds, recapitalizations, and growth capital financings. SPC was formed in 1996 and has offices in San Francisco, California; Bedminster, New Jersey; and Ontario, Canada.


DEAL STATS #
Overall 30 of 42
Sector (Consumer Products) 10 of 13
Type (Add-on Acquisition) 18 of 25
State (Florida) 1 of 1
Country (United States) 28 of 35
Year (2016) 1 of 1
Size (of disclosed) 5 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-25 Swanson Health Products

Fargo, North Dakota, United States

Swanson Health Products is an online and catalog marketer of Swanson-branded and third-party healthy living products. Swanson Health Products was founded in 1969 and is based in Fargo, North Dakota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-06 Passport Foods

Ontario, California, United States

Passport Foods is a manufacturer and distributor of internationally-flavored foods to foodservice and retail channels in North America. Today Passport offers over 125 product SKUs across a comprehensive range of authentic, boldly-flavored product categories to food retailers and restaurants around the country. Headquartered in Southern California, Passport Foods has over 170 employees and was founded in 1978.

Buy -
SELLER

Triangle Capital

Raleigh, North Carolina, United States

Category Private Equity Firm
Founded 2007
Size Middle-Market
Type Sector Agnostic
DESCRIPTION


DEAL STATS #
Overall 35 of 72
Sector (Consumer Products) 4 of 6
Type (Add-on Acquisition) 18 of 34
State (Florida) 2 of 5
Country (United States) 35 of 71
Year (2016) 7 of 15
Size (of disclosed) 5 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-25 Twin-Star International

Delray Beach, Florida, United States

Twin-Star International, Inc. is a designer and marketer of decorative electric fireplaces and bathroom vanities. Through a continuous focus on designing high quality, aesthetically pleasing products, Twin-Star has achieved leading market positions in the large and growing electric fireplace category and is the primary supplier of the category to leading retailers across various channels.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-31 Performance Health and Wellness

Akron, Ohio, United States

Performance Health and Wellness is a manufacturer and marketer of rehabilitation and wellness products including topical analgesics, resistance bands and tubing, exercise balls, hand exercisers, and stability trainers. Performance Health and Wellness is based in Akron, Ohio.

Sell -