Wind Point Partners Announces Sale of FoodScience to Morgan Stanley Capital Partners
Chicago, Ill., November 19, 2024 – Wind Point Partners (“Wind Point”), a Chicago-based private equity firm, announced today it has sold portfolio company FoodScience Corporation (“FoodScience” or the “Company”) to Morgan Stanley Capital Partners, a New York-based private equity firm.
Based in Vermont, FoodScience is a formulator, manufacturer and marketer of high-quality nutritional supplements for humans and pets. The Company sells its product portfolio through practitioner channels, direct-to-consumer (“DTC”), e-commerce and retail distribution.
Wind Point acquired FoodScience in 2021 in partnership with Sharon Rossi, who joined the Company as CEO in 2017. Ms. Rossi brought significant experience leading companies in the consumer products industry, having most recently served as Chief Customer Officer at Coty, Inc. Wind Point also partnered with Katie Doyle, a member of Wind Point’s Executive Advisor Partner (“EAP”) program, who joined as Board Chair. Ms. Doyle recently served as CEO of Swanson Health Products and President of Abbott Nutrition Products Division (U.S.). Ms. Rossi and FoodScience management will continue to lead the business under new ownership.
Ms. Rossi stated, “I am grateful for Wind Point’s tremendous support and partnership over the last three and a half years. Together we enhanced FoodScience’s platform through broader capabilities and an expanded manufacturing and distribution footprint, further strengthening FoodScience’s ability to deliver on its mission to help people and their pets live healthier lives every day. FoodScience is well-positioned to continue serving our customers, employees and stakeholders, and the team and I look forward to continuing to scale the platform in our next phase of growth.”
Paul Peterson, Managing Director at Wind Point, commented, “FoodScience is another excellent example of Wind Point’s reputation as a strong partner and steward of family-owned businesses. In close partnership with Sharon Rossi, we were able to strengthen and further professionalize a business with a long history and already great reputation. Through a combination of organic growth and M&A, we created a highly attractive product portfolio with diversified end-market exposure. This was a terrific partnership, and we are extremely thankful to Sharon and the FoodScience team for helping us deliver a strong outcome for our investors.”
Wind Point is an active investor in the pet and animal nutrition industry. In addition to FoodScience, select prior and current investments include Assisi Pet Care, Targeted PetCare, Petmate and Pestell Nutrition.
Kirkland & Ellis LLP served as legal advisor to FoodScience in the transaction. Houlihan Lokey acted as financial advisor. Forvis, LLP provided financial due diligence support.