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Canada's Jamieson Wellness buys Youtheory, expanding markets for both

Youtheory collagen supplement
Canadian market leader finds a solid supplements foothold in the U.S. market, as well as a state-of-the-art manufacturing plant.

Jamieson Wellness has acquired independent supplements company Nutrawise, maker of Youtheory—the California-based brand known for its square containers and wide variety of collagen supplements.

The deal is for $210 million, which includes $25 million in Jamieson common shares to be issued to the sellers. The acquisition is seen as being complementary to Jamieson products and will help Nutrawise—under its Youtheory brand—expand to new markets.

“This transaction is a major strategic milestone for Jamieson, accelerating our expansion in the world’s largest vitamin, mineral and supplement market,” Mike Pilato, president and CEO of Jamieson Wellness, said in a press release. “The transaction is immediately accretive to Jamieson, and we see significant opportunities for future growth synergies as we leverage our broad product portfolio, best-in-class operational capabilities and global footprint to accelerate Youtheory’s expansion across multiple categories and channels in the United States and around the world."

With Youtheory's acquisition, NOW Foods becomes the country's largest independent supplements brand. Shaklee, DoTERRA, Goli, Santa Cruz Nutritional, Natural Factors and Nordic Naturals continue to stand alone, as well.

“Independent supplement brands that resonate with consumers and show strong growth are incredibly appealing acquisition targets," said Jill Staib, managing director and partner at William Hood & Co., which which served as exclusive financial advisors to the deal. "Jamieson’s recent announcement regarding plans to acquire the Youtheory brand is evidence of this. Darren and Patty Rude have already built an incredible business and we believe Jamieson’s expertise will help to further accelerate the growth of the Youtheory brand.“

Complementary companies

The strategic rationale for Jamieson includes creating a platform for expansion into the U.S. supplements market, having a premium brand that is complementary to the Jamieson portfolio, a state-of-the-art manufacturing facility that enhances Jamieson’s available capacity, and a simpatico mission-driven business culture.

“Patty and I founded Nutrawise over 10 years ago with the mission to build a business based on integrity, authenticity and quality,”Darren Rude, co-founder of Nutrawise, said in the released statement. "Jamieson Wellness shares a similar mission and values, and we are confident that the combination of Nutrawise, the Youtheory brand, and Jamieson’s expertise will further accelerate our growth and continue to support the health and wellness needs of our consumers.”

Jamieson is a 100-year-old supplements provider that stands as the largest consumer health brand in Canada. The company provides dietary supplements through both the Jamieson and Smart Solutions brands, plus products under the Progressive, Precision and Iron Vegan names. Jamieson estimates that its products are found in nearly half of Canadian households. Total revenue for 2021 was reported at $451 million, a 12.0% increase over the prior year, reports the company.

In addition to its sturdy position within its domestic market, Jamieson distributes products to more than 45 countries worldwide. Jamieson also offers contract manufacturing and product development services to substantial consumer health companies and retailers worldwide.

“Jamieson is well-poised to capitalize on the long runway for supplement growth opportunity in Canada,” wrote NBJ in its 2021 global report, “and based on its current success in other global markets, will likely continue to succeed abroad.”

To understand how the dietary supplements industry has developed in the last year and see a forecast where it’s headed through 2025, check out the NBJ Supplements Business Report 2022, a keystone reference for any related business.

Correction: Jun 13, 2022
Several errors were corrected after this story was published, including the misspelling of Jamieson Wellness' name, the age of the company, a brand name it operates and the company's total revenue for 2021.
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