Private equity-backed The Quality Group has successfully acquired a majority stake in the US sports nutrition company, Raw Nutrition.
Based in Germany, The Quality Group is primarily owned by the private equity firm CVC and boasts brands like ESN and More Nutrition in its portfolio.
Described as “a strategic partnership,” the arrangement allows The Quality Group to hold a majority share in the Florida-based Raw Nutrition business.
Founded in 2019, Raw Nutrition is spearheaded by CEO Dom Iacovone, alongside Chris Bumstead and bodybuilding coach Matt Jansen. Notably, all three will retain shareholdings in the consolidated company. Financial details of the agreement remain undisclosed.
Iacovone commented, “After many discussions with several global performance nutrition companies, we decided to enter a partnership with The Quality Group given that they understand all the opportunities and challenges that we’re about to face, and have navigated through them extremely successfully.”
Furthermore, he added, “Going through our process, it was very important to me to find a strategic partner versus one that would just give us the most money. We have big goals at Raw Nutrition to build this brand as big as it can be and cooperating with The Quality Group is the first step to helping us navigate that.”
A statement from The Quality Group noted that both companies will “continue to operate as independent brands.”
“Both Raw Nutrition and The Quality Group are deeply connected to their target audiences. While Raw excites athletes in the US, we activate a loyal, performance-driven following in Europe through ESN and More Nutrition,” said Heikki Takala, CEO of The Quality Group.
Raw Nutrition aims to expand its product portfolio and enhance its presence in the US market. Currently, the company’s offerings are available online and in physical locations such as Crunch Fitness, GNC, Sam’s Club, and The Vitamin Shoppe.
Notably, the owners of The Quality Group sold a majority stake to CVC three years ago.
Established through the merger of sports nutrition brands ESN and More Nutrition in 2020, the business primarily operates in Germany, Austria, and Switzerland.
This week, the company announced the launch of the More Nutrition brand in the UK, further solidifying its footprint in the food manufacturing sector.
