One of Canada's Oldest and Most Respected Companies, Founded in 1922, to Continue Long History of Excellence
CCMP Brings Deep Consumer-Facing Operational Expertise and Successful Experience Investing in Canada
TORONTO, Jan. 27, 2014 /CNW/ - Jamieson Laboratories Ltd ("Jamieson" or "the Company"), Canada's leading provider of vitamins, minerals and nutrition supplements ("VMS"), today announced that Vauban International Investments ULC and Maginot Corporation, companies wholly owned by Jamieson's Chairman, Eric Margolis, have entered an agreement to sell the Company to affiliates of CCMP Capital Advisors, LLC ("CCMP"). The deal is expected to close January 31, 2014.
Mr. Margolis said, "I've been leading Jamieson for 41 years. Today, one in three Canadians take Jamieson supplements making it this country's number one vitamin brand. Jamieson will benefit from new infusions of capital and top line management to continue its growth, including expansion into the United States and internationally, to achieve our goal of becoming a world market leader."
Mr. Margolis continued, "It's time for me to pass the helm to a group of highly professional managers and experienced investors and operators so that I can focus on my primary interests, world affairs journalism and writing. Equally important, this will allow me to amply fund the Eric S. Margolis Family Foundation, which is devoted to my other passion, animal welfare.
Mr. Margolis will remain Chairman of the Jamieson board of directors and act as a consultant. CEO Vic Neufeld will continue to guide the company, working closely with Doug Cahill, a CCMP Executive Advisor with over 20 years of consumer products experience at Doane Pet Care, Mars Petcare, and Oreck. Upon closing of the transaction, Mr. Cahill will become a consultant to Jamieson and will chair its Executive Committee.
Mr. Margolis concluded, "CCMP will prove excellent stewards for this landmark company and will continue Jamieson's devotion to producing the world's finest, purest nutritional products while avoiding all forms of animal testing. Jamieson's worldwide reputation for integrity and quality will be safeguarded, as will the care for its employees and their families."
Rich Zannino, Managing Director of CCMP, said, "Jamieson has built an outstanding reputation for quality, purity and innovation since its founding 92 years ago, and has now established its position as the market leader in Canada with a diverse portfolio of innovative formulas. We see tremendous opportunities to grow Jamieson's footprint in the $30 billion global VMS market, and look forward to working with the many talented people at Jamieson to provide the Company's valued customers with the world's best VMS offerings."
Mr. Zannino continued, "This investment marks CCMP's second major investment in Canada and underscores our strong partnership with institutional investors in Canada, including CPP Investment Board, which provided financing for the transaction. The Company will remain headquartered in Toronto with its manufacturing and quality control laboratories in Windsor, Ontario. We are proud to be increasing our engagement in Canada's business community."
About Jamieson Laboratories
Established in 1922, Jamieson Laboratories is Canada's largest manufacturer and distributor of advanced natural-health products and a world-leading innovator in the development of proprietary supplement formulas. Jamieson products are made at the company's state-of-the-art laboratories in Windsor, Ontario. With corporate offices in Toronto, Jamieson exports products to more than 50 countries.
About CCMP Capital
CCMP Capital Advisors, LLC ("CCMP") specializes in middle market buyouts and growth equity investments of $100 million to $500 million in the U.S. and Europe. CCMP focuses on generating alpha through the operational transformation of its portfolio companies. With offices in New York, Houston and London, CCMP invests in four primary industries: Consumer, Industrial, Energy and Healthcare. Selected investments under management include: ARAMARK Corporation, Chaparral Energy, Infogroup, Jetro Holdings, LHP Hospital Group, Medpace, Milacron, Newark Energy, Ollie's Bargain Outlet and Pure Gym.
SOURCE: Jamieson Laboratories
For further information:
Jamieson Laboratories Ltd.
Paula Prociuk Blacklock
Email: [email protected]
Tel: (416) 558-1550
Andrew Cole/Brooke Gordon
Sard Verbinnen and Co.
+1 (212) 687-8080