KKR purchases majority of supplements maker The Nature's Bounty Co.

Kohlberg Kravis Roberts didn’t finish shopping when its Internet Brands portfolio picked up WebMD on Monday. Hours later, KKR announced it purchased a majority stake in The Nature’s Bounty Co.’s consumer products group.

The Carlyle Group, which purchased Nature’s Bounty in 2010, will continue to hold a significant percentage of the company. Nature’s Bounty makes and distributes dietary supplements and health products under brands such as Nature’s Bounty, Sundown Naturals, Osteo Bi-Flex, MET-Rx and more.

“Nature’s Bounty is a unique consumer health and wellness platform that has built an outstanding reputation for developing distinctive brands and high-quality products,” Nate Taylor, member and head of consumer retail at KKR, said in a prepared statement. “We are excited to partner with the management team to grow Nature’s Bounty’s global franchise.”

The terms of the sales agreement were not disclosed, but PEHub.com reported the purchase was valued at $3 billion. The transaction is expected to close by the end of the year, barring problems with regulatory approvals.

Bloomberg reported in January that Carlyle was looking to sell Nature’s Bounty. Unnamed sources then estimated the company could sell for $6 billion.

However, last month, Carlyle and Nature’s Bounty sold its European retailer, Holland & Barrett, to L1 Retail for 1.77 billion British pounds. The Nature’s Bounty Co. started in 1870 with the founding of the Holland & Barrett stores in England.

Related:Tech and Big Food among drivers in big investment year

Steve Cahillane, president and CEO of The Nature’s Bounty Co., said in a statement, “We are delighted to move forward with KKR and excited to pursue the significant growth opportunities ahead in a dynamic and expanding global wellness industry. We have transformed the business during our partnership with Carlyle, and we look forward to their continued involvement and support.”

The Nature’s Bounty Co. is based in Ronkonkoma, New York, but has facilities throughout the United States and Canada, as well as offices in the United Kingdom, China, the Netherlands and other overseas locations.