New Castle Buys Atkins

GREENWICH, Conn.North Castle Partners (www.NorthCastlePartners.com), along with its co-investors and certain management team members, has acquired a controlling interest in Atkins Nutritional Holdings Inc., one of the best-known weight-management brands. The terms of the investment were not disclosed. North Castle is a leading private equity firm focused exclusively on investments in consumer-driven product and service businesses that benefit from Healthy Living and Aging trends. Atkins markets nutrition bars and ready-to-drink shakes under its Atkins Advantage brand, as well as better-for-you confectionary products under its Atkins Endulge brand; its products are currently being sold through mass, supermarket and club channels in approximately 30,000 retail locations throughout the United States.

We are excited about the Atkins acquisition as our latest nutrition platform investment, particularly given its focus on the pervasive weight management industry and the increasing consumer interest in health and weight issues, said Chip Baird, North Castles founder and managing partner. North Castle Managing Director Lou Marinaccio added: Atkins will benefit from substantial strategic and operational enhancements that we will bring, by leveraging an extensive knowledge base and network from prior investments in similar nutrition industry leaders, including Naked Juice and EAS. Consequently, we are pleased to be partnering once again with Monty Sharma, former CEO of EAS and Naked Juice, who will become the CEO of Atki ns, effective immediately. Sharma added he and his team are looking forward to enhancing the diet program and launching innovative new products, while expanding distribution, to accelerate brand growth at Atkins.