Wellful, Inc. (“Wellful”) a premier omni-channel health and wellness platform and a Kainos Capital portfolio company, today announced the acquisition of Ancient Nutrition from VMG Partners, Hillhouse Investment and other unit holders.

Wellful combines advanced e-commerce technology with scientifically formulated solutions to help consumers live happier and healthier lives across its portfolio of vitamin, supplement, and food brands. The acquisition of Ancient Nutrition will further strengthen Wellful’s omnichannel presence in a number of vitamin, mineral, and supplement (VMS) categories and expand its distribution footprint into the natural retail channel.

Ancient Nutrition was built upon the mission of making history’s most powerful superfoods accessible to everyone through the development of high-quality supplements and a commitment to transforming the way food is grown. Ancient Nutrition's core product categories include protein, gut health, and greens. Since inception, Ancient Nutrition has sustained substantial growth, and is the fastest-growing VMS brand and the largest collagen brand within the natural channel.

"We are thrilled to bring Ancient Nutrition onto the Wellful platform," said Brandon Adcock, CEO of Wellful. "The Ancient Nutrition team has done a phenomenal job of building a scaled brand with considerable future growth potential. Ancient Nutrition fundamentally stands for something within the industry and delivers real results to its customers. We’re very excited to further strengthen the brand and to expand the product portfolio that customers have come to know and trust."

Jordan Rubin, co-founder of Ancient Nutrition, added, “I am proud of how far Ancient Nutrition has come in our mission to Save the World with Super Foods and look forward to seeing our innovative products become a staple in every North American household and beyond. I’ve appreciated the partnership with VMG and Hillhouse Investment in helping us build one of the leading brands in the natural products industry.”

Dr. Josh Axe, co-founder of Ancient Nutrition, continued, “I’ve dedicated my life to educating others on how to achieve their health objectives and Ancient Nutrition has been an incredible platform to help bring this dream into reality. VMG and Hillhouse Investment brought instrumental resources in helping us achieve our goals.”

Colt Morton, CEO of Ancient Nutrition, will continue to lead the business as part of Wellful.

“I couldn’t be prouder of what our team has achieved and the momentum we continue to experience as the fastest-growing VMS brand in the natural channel," said Mr. Morton. “Partnering with Wellful marks an exciting new chapter in our journey. Wellful’s resources and our shared vision for innovation position Ancient Nutrition to bring our mission to even more people while staying true to the values and culture that have brought us here.”

“The acquisition of Ancient Nutrition establishes Wellful as the largest independent VMS platform in North America,” said David Gassko, Partner at Kainos. “We are excited to welcome the Ancient Nutrition team to the Wellful family and to support their mission of Saving the World with Super Foods. Wellful continues to have ample dry powder to invest in the continued growth of its brand portfolio, including R&D, marketing, or future acquisitions.”

“Demand continues to grow for efficacious science-backed solutions to help consumers manage their lives,” Mr. Adcock added. “Ancient Nutrition is the perfect addition to our already robust portfolio of brands and further cements our commitment to and belief in the VMS industry. Our investments in our brands and vertical integration allow us to continually innovate to improve the lives of our customers.”

Piper Sandler & Co. served as financial advisor and Greenberg Traurig, LLP served as legal counsel to Ancient Nutrition. Winston & Strawn LLP served as legal counsel to Wellful.

About Wellful

Wellful, Inc. is a premier omnichannel health and wellness company that combines innovative technology with scientifically formulated solutions to help consumers live happier and healthier lives. Wellful's portfolio of clinically studied wellness brands includes such brands as Nugenix, Ancient Nutrition, Peptiva, Instaflex, Super Beta Prostate, Doctors’ Preferred, Jenny Craig, and Nutrisystem. Wellful, Inc. is a Kainos Capital portfolio company.

About Ancient Nutrition

At Ancient Nutrition, we believe the human body was built for high performance. In the modern world, we are disconnected from the traditions and nutritional principles that were honored and celebrated throughout history. Our real food nutritional products are designed to provide Ancient Nutrients in a modern, convenient form to power the body and mind, restoring us to the health, strength, and vitality of our ancestors. For more information, please visit www.ancientnutrition.com.

About Kainos Capital

Kainos Capital is a middle market private equity firm with an exclusive focus on the food and consumer sector. The Kainos team has extensive investment and operating experience in the industry, having completed more than 45 transactions with a total transaction value of more than $7 billion. The firm's strategy is to build a diversified portfolio of growing and strategically relevant food and consumer businesses. For more information, visit www.kainoscapital.com.

About VMG Partners

VMG Partners is a leading private equity firm focused on partnering with entrepreneurs and managers to support the growth and strategic development of transformative consumer brands and services, and the technologies that power them. VMG currently invests through its Consumer and Technology funds. Since its inception in 2005, VMG has provided financial resources and strategic guidance to drive growth and value creation in over 60 companies. For more information, please visit www.vmgpartners.com.

About Hillhouse Investment

Founded in 2005, Hillhouse Investment (“Hillhouse”) is a global alternative investment manager dedicated to partnering with high quality businesses for the long-term. With nearly two decades of experience, Hillhouse has grown to be among the largest alternative asset managers with a range of investment strategies that span public equities, private equity (across buyout, venture capital and growth strategies), private credit and real assets. Hillhouse collaborates with industry-defining enterprises, aiming to establish alignment with sustainable, forward-thinking companies across healthcare, business services, consumer, and industrial sectors. The firm manages capital for global institutions, including non-profit foundations, endowments, and pensions. For more information, please visit www.hillhouseinvestment.com.

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