Canada's largest provider of weight loss products and services
TORONTO, Feb. 18 /CNW/ - TorQuest Partners and Cameron Capital announced
today that they have each made a new investment in Herbal Magic Inc., Canada's
largest franchisor and operator of commercial weight loss centres. The
transaction includes a significant personal investment by Cameron Capital's
Chairman and CEO, Steve Hudson, who will become the new CEO of Herbal Magic.
TorQuest Partners worked with several co-investors on the transaction.
"Today's announcement is a strong endorsement of the Herbal Magic
business, brand and product," said Eric Berke, Managing Partner, TorQuest and
Chairman of Herbal Magic. "With Steve on board, the Herbal Magic franchisee
network will benefit from a unique entrepreneurial talent and return to an
"We are very excited about this opportunity. Herbal Magic is a perfect
fit when considering our previous successful investments in franchise-based
personal care businesses," said Steve Hudson. "This is a continuation of our
10-year strategy to invest in this sector. And I also have an emotional stake
in this. I'm not just the new CEO of Herbal Magic, I am also a client."
Herbal Magic weight loss programs combine one-on-one counseling,
nutrition management and dietary supplement support. Each program is
individualized to meet a specific client's needs and the client is given the
information and tools necessary to help them lose the weight and keep it off.
Herbal Magic, headquartered in Toronto, is Canada's leading franchisor of
commercial weight loss centers with over 350 centers across North America
providing an exclusive line of herbal supplements and weight management
TorQuest Partners - Founded in 2002, TorQuest Partners Inc. is a
Canadian-based manager of private equity funds. With more than C$700 million
of equity capital under management TorQuest seeks to pursue investments in
middle market and later stage companies with the goal of building value
through opportune acquisitions, strategic leadership and the timely use of
Cameron Capital Corporation - Cameron Capital Corporation is a private
investment firm with proven capabilities in the personal care sector. Past
investments include Hair Club for Men and Women, where the company oversaw a
dramatic and highly profitable repositioning of a 30-year-old brand, and
Beauty First/Pure Beauty, transforming a beauty supply network into a leading
chain of franchise-based retail beauty boutiques and salons.
For further information:
For further information: Louise Kozier, Longview Communications, (604)