Partnership Capital Growth Facilitates Next Proteins Deal

SAN FRANCISCO, CA (April 26, 2011) – Partnership Capital Growth, a full-service boutique investment bank that focuses exclusively on the healthy, active and sustainable living marketplace, today announced that Designer Protein, LLC has purchased certain operating assets of Next Proteins, Inc., including the widely popular Designer Whey Protein™ sports nutrition brand and line of products. Designer Protein, LLC is a subsidiary of Athena Wellness Brands, LLC, a newly formed company that is backed by GarMark Partners, Northwood Ventures and Stockton Road Capital. Partnership Capital Growth acted as the exclusive financial advisor to Next Proteins, Inc., in the deal.

“Making a decision to sell the business you founded is always difficult,” said David Jenkins, founder and CEO of Next Proteins, Inc. “Partnership Capital Growth made it easier by identifying the right buyer who would continue to build the brand alongside the existing management team.”

Partnership Capital Growth facilitated the successful transition of ownership to a value added partner, led by Cyrill Siewert, who is an accomplished consumer packaged goods and nutrition executive and will now be the Chairman and CEO of the Company. Mr. Siewert was most recently the CEO of Amerifit Brands, a leading consumer healthcare and nutrition company, and before that was the Chairman and CEO of Select Nutrition, and a senior executive with The Colgate Palmolive Company and PepsiCo, among other positions. 

“The Sports Nutrition Category is one of the fastest growing consumer packaged goods segments in the U.S. today, and Designer Whey is a brand and line of products that everyone in the industry knows and loves,” said Joe Rhodes, Managing Partner of Stockton Road Capital. “Cyrill and I are excited to be working with and supporting the management team and a great group of investors on the opportunity to invest in and build these dynamic brands.”

“We are very pleased to have facilitated the successful transition of ownership from Mr. Jenkins to a value added partner like Stockton Road Capital and their partners Northwood Ventures and Garmark Partners,” said Brian Smith, Director at Partnership Capital Growth. “We focused on finding a buyer with significant consumer packaged goods experience and a vision for building the platform with the existing team. Stockton Road Capital’s deep nutrition expertise fit perfectly with Next Proteins’ team and foundation.”

Next Proteins, Inc., was represented by Partnership Capital Growth and the buyer group received legal counsel from Finn Dixon & Herling LLP, accounting advice from Moss Adams LLP and industry advice from New England Consulting Group. Additionally, Designer Protein has initiated a banking relationship with the Union Bank of California.

 

ABOUT DESIGNER WHEY PROTEINTM
Designer Whey Protein™ is a leading brand of protein powder products and has been a pioneer in the sports nutrition market since the early 1990’s. Designer Whey has broadened its line in 2011 by launching ready to drink protein shakes and nutrition bars that carry on the brand’s tradition of great tasting, best in class products.  Designer Protein is also acquiring the popular Aria™ women’s protein product and a license to sell protein products under The Biggest Loser™ trademark of NBC Universal. http://www.designerwhey.com

ABOUT GARMARK PARTNERS

GarMark Partners is a private investment firm that makes debt and equity investments in a wide range of middle market companies, including consumer-related businesses. http://www.garmark.com

ABOUT NORTHWOOD VENTURES

Northwood Ventures is a leading private equity/venture capital firm that focuses in the consumer, communications and manufacturing sectors. Northwood has invested in more than 160 companies since being founded in 1983. http://www.northwoodventures.com

ABOUT STOCKTON ROAD CAPITAL

Stockton Road Capital, LLC is a boutique private equity firm and advisor that specializes in the consumer products sector. http://www.stocktonroadcapital.com

ABOUT PARTNERSHIP CAPITAL GROWTH
Partnership Capital Growth is a boutique merchant bank that provides full-service merger and acquisition, financing and capital structure advisory services to middle market companies. The company focuses exclusively on consumer products and services in the areas of healthy, active and sustainable living. Partnership Capital Growth is based in San Francisco with affiliate offices in Boston and New York City.  http://----escape_autolink_uri:f1b2b7f8165505858ff21cb8836ed008----