A Natural Acquisition: Harvest Partners Purchases Levlad, Inc. & Its Subsidiary Arbonne International
LOS ANGELES, Dec. 15 - (SOAPWIRE) - HARVEST PARTNERS, has announced the acquisition of LEVLAD, INC. (http://www.levlad.com) and its subsidiary ARBONNE INTERNATIONAL, INC., leaders in the manufacture and distribution of personal care products with combined net sales of approximately $200 million for 2004. Terms of the transaction were not disclosed.
Harvest Partners is a top New York based private equity investment firm specializing in management buyouts and growth financing of middle-market companies. Harvest Partners has formed a special purpose holding company NATURAL PRODUCTS GROUP, LLC (NPG) under which Levlad and Arbonne will operate.
Levlad manufactures the NATURE'S GATE CLASSICS(R), NATURE'S GATE ORGANICS(R), and NATURE'S GATE ORGANICS FRUIT BLEND(TM) lines of natural and organic personal care products. Shampoos, conditioners, soaps, bath gels, lotions, deodorants, sunscreens and toothpastes are sold through well-known specialty retailers including Whole Foods Market, Inc. and Wild Oats Markets, Inc., as well as a large number of health food and other specialty stores. Levlad's branded products utilize an array of botanicals and herbs in their natural formulas, reflecting the company's ongoing commitment to environmentally-friendly and cruelty-free products.
Founded in 1972 by Vladimir and Leo Weinstein, Levlad was one of the first manufacturers of natural personal care products. The brothers, Russian immigrants, virtually established the category with their first product -- Rainwater Herbal Shampoo. During a rare Venice Beach downpour, the brothers were inspired to collect the pure rainwater and combine it with botanical and herbal extracts. Their goal was to create a wonderfully different "rainwater" shampoo. Vladimir, who had studied biology and specialized in rare herb studies at UCLA, chose the specific plant ingredients while Leo gathered the rainwater. After adjusting the formula, the shampoo was ladled out of a barrel and sold to customers at the Weinsteins' Herb Shop. Nature's Gate Rainwater Shampoo became so popular, Leo and Vladimir decided to package it themselves and sell it to local health food stores. Soon, their official company, Levlad, was founded.
The company has the #1 market position in the natural hair care market, and its 350 branded products hold leading market positions across additional key product categories. Levlad also provides value-added, turnkey manufacturing and formulation services to private label customers, including a number of fast-growing consumer products, marketers and retailers.
"Our investment in Levlad will bolster the Nature's Gate(R) and Organics(R) brands and expand upon their leadership positions in the fast-growing natural and organic personal care market. At the same time, we seek to build the company's partnerships with its key private label customers," states Michael B. DeFlorio, Managing Director of Harvest. "At Arbonne, we plan to build the infrastructure necessary to support the continued growth of the consultant base and invest in marketing and sales support that will increase market penetration in the nearly $30 billion direct sales industry."
Natural Products Group, LLC will operate from the headquarters facilities in both Chatsworth and Irvine, California.
###
SOURCE Harvest Partners
EMAIL ALERTS
