- Franchise Group is selling The Vitamin Shoppe for approximately $193.5M following its Chapter 11 bankruptcy filing in late 2024.
- Los Angeles-based Kingswood Capital Management and Performance Investment Partners will take over the 650-store chain.
- The new owners plan significant investments in store upgrades, brand partnerships, and omni-channel retail enhancements.
A Retail Shift In Ownership
The Vitamin Shoppe, known for its broad assortment of nutritional supplements and wellness products, is changing hands, per Bisnow.
The 650-store retailer will be acquired by Kingswood Capital Management and Performance Investment Partners in a deal expected to close this quarter, generating nearly $194M for its current owner, Franchise Group.
Post-bankruptcy Pivot
The sale follows Franchise Group’s voluntary Chapter 11 filing last November. The company cited challenges stemming from post-pandemic shifts in consumer behavior—specifically, a stimulus-fueled surge followed by an inflation-driven spending pullback.
Future-focused Investment
The new private equity owners plan to invest in several core areas, including:
- Store renovations across the nationwide fleet.
- Strengthening partnerships with third-party supplement brands.
- Expanded R&D for in-house brands like True Athlete and BodyTech.
- Enhancements to The Vitamin Shoppe’s digital and omni-channel shopping experience.
Turbulent Retail Landscape
The Vitamin Shoppe’s acquisition comes amid a wave of restructuring across the retail sector. Recent months have seen major players like Forever 21 and Boardriders (parent of Quiksilver and Volcom) announcing widespread store closures. Rising costs from new tariffs are also forcing retailers to pass higher prices onto consumers.
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PE firms See Opportunity
Private equity interest in legacy retail brands is rising. In March, Sycamore Partners agreed to a $10B buyout of Walgreens Boots Alliance. The same month, Family Dollar was acquired for $1B by activist investment firms Brigade Capital and Macellum Capital.
What’s Next
The new owners’ investment in The Vitamin Shoppe signals confidence in health and wellness retail—even as the broader retail sector contends with economic headwinds. With hundreds of store upgrades and renewed focus on brand differentiation, the next chapter for The Vitamin Shoppe may offer a blueprint for revitalizing brick-and-mortar retail in 2025 and beyond.
