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Kingswood Capital Management, Performance Investment Partners Complete Acquisition of The Vitamin Shoppe

The company’s former CEO Sharon Leite will resume her position as part of the transaction.

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By: Lianna Albrizio

Associate Editor

Kingswood Capital Management, LP and Performance Investment Partners, LLC completed their acquisition of The Vitamin Shoppe from Franchise Group.

As part of the transaction, Sharon Leite, who previously served as CEO of The Vitamin Shoppe from 2018 to 2023, has returned to lead the company in the same capacity.

An ‘Exciting New Era of Expansion’

“After an incredibly rewarding and successful four and a half years in the business, I am thrilled to return to The Vitamin Shoppe,” said Leite. “With the invaluable support of our partners at Kingswood and PIP—leaders in building brands and driving growth in omnichannel retail—we are primed for an exciting new era of expansion. I look forward to collaborating with the board, management team, vendor partners, and our dedicated Health Enthusiasts as we build a world-class health and wellness platform that delivers an unparalleled experience to our customers.”

Upon closing, Alex Smith and Beth Kaplan joined Leite and representatives from Kingswood and PIP on the company’s board. Smith is a Kingswood operating partner and the current executive chairman of Kingswood portfolio company, World Market. Previously, Smith served as executive chairman and then Chairman of The Vitamin Shoppe, served as CEO of Pier 1 Imports, and held numerous senior management positions at The TJX Companies.

Kaplan is an experienced operator, advisor and investor in the consumer sector. Most recently, she was president and chief operating officer of Rent The Runway. Previously, she served as president, chief merchandising and marketing officer, and director of General Nutrition Centers. Before joining GNC, she held numerous leadership positions within Bath & Body Works, Rite Aid Drugstores and Procter & Gamble.

Said Kingswood Partner Michael Niegsch and PIP Partner Mark Genender, “We look forward to investing in a variety of brand-building strategies, including further supporting the Health Enthusiasts in running great stores, enhancing the company’s digital marketing and e-commerce capabilities, innovating the private brand portfolio and working with existing and emerging third-party brands to be the best distribution partner in the market.”

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