Capstone CEO James Leishman will take on CEO role for combined company
Nutrition and wellness manufacturer Innovations in Nutrition + Wellness (INW) has acquired Capstone Nutrition from Brightstar Capital Partners for an undisclosed amount.
Capstone, established in 1989 is a full-service developer and manufacturer for wellness brands covering various market segments including speciality health, digestive health and functional food.
Capstone chief executive Jared Leishman has been named CEO of the combined company, bringing more than 15 years of experience in the dietary supplement industry.
Leishman previously served as CFO at Capstone for five years and five months, before taking on the role of COO in 2015 and then chief executive in March 2016.
Leishman said of the acquisition: “Combining our two complementary businesses will continue to strengthen INW as a world-class turnkey service provider of differentiated products across the vitamins, minerals and supplements categories.
“I am confident that together we can enhance our position as a leading provider of innovative, customer-focused solutions for the modern health and wellness industry,” he added.
Andrew Weinberg, founder and CEO of Brightstar, said: “This strategic combination with INW fulfils the aspirations Brightstar had for Capstone when we acquired the company in 2019.”
Guggenheim Securities acted as financial advisor to INW, while Cornell Capital and Weil, Gotshal &Mages acted as legal advisors.
Jefferies and BMO Capital Markets Group acted as financial advisors to Capstone, and Fredrikson & Byron P.A. and Kirkland & Ellis were the company’s legal advisors.
Date published: 8 June 2021