Back in December 2013, HIG Growth -- an investment fund of HIG Capital -- acquired Integrity Nutraceuticals out of Spring Hill, TN for an undisclosed amount. Integrity provides high-quality, value-added turnkey solutions for the contract manufacturing space in both OTC and dietary supplement markets.
Just four months later, HIG is back at it, acquiring Cornerstone Research & Development -- another highly regarded contract manufacturing services provider -- out of Ogden, Utah, also for an undisclosed amount. The acquisition also serves as a merger between the two operators, creating one consolidated entity with unique positioning in the supplement market as a pure-play services provider with facilities in both the eastern and western US. The company can now boast more than 600,000 square feet of manufacturing space, a number that will increase as HIG invests growth capital to expand capacity at both facilities.
Greg Horn, a member of NBJ's editorial advisory board and board member for the new entity, says: "This is more evidence of the sea change happening in supplements around quality. This kind of consolidation is pushing the market toward higher quality and value. It's the long-anticipated 'rising bar' we've looked for in the wake of DSHEA."