RECENT RELEASES
Natural Products Group, LLC-
Business
Natural Products Group, LLC (“NPG”) was the parent of Arbonne International, LLC (“Arbonne”) and Levlad, LLC (“Levlad”). Arbonne was a leading direct marketer of personal care products including skin and anti-aging creams, bath and body washes and nutritional products. Arbonne marketed these products through a growing, multi-level marketing network of over one million independent consultants in North America, Australia and the United Kingdom. Levlad was a leading manufacturer and marketer of natural and organic personal care products for its branded products business, Nature’s Gate, and for a growing base of private label customers, including Arbonne.
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Harvest Partners Investment
In November 2004, Harvest purchased NPG. To fund the acquisition Harvest arranged the debt financing, which included a senior credit facility and a mezzanine note. In addition, Harvest arranged equity co-investment capital for the transaction. Harvest completed three dividend recapitalizations of Natural Products Group in August 2005, January 2006, and June 2006 and exited in 2010.
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Investment Thesis
- Market leader
- Attractive business model
- Arbonne consultant base generates sustainable revenues and profit growth
- Favorable industry dynamics
- Geographic expansion potential
