ABU DHABI (WAM)
Mubadala Investment Company (Mubadala) on Monday announced that it has sold its minority stake in Arcadia Consumer Healthcare (Arcadia), a leading consumer health and wellness platform headquartered in the United States, in conjunction with the recently announced acquisition of Arcadia by funds managed by Bansk Group (Bansk).
Philip Yifei Bao, Director, Private Equity at Mubadala, commented, “It has been a privilege to partner with Bansk, Mike DeBiasi and the Arcadia team over the past four years.”
He added, “We are incredibly proud to have supported the transformation of Arcadia into the leading North American consumer health and wellness platform, through an acceleration of organic growth supplemented by the successful integration of the strategic acquisitions of Avrio and CloSYS.
During our four year partnership, Arcadia’s revenue tripled, alongside a material improvement in profitability, reflecting the strength of the team and the platform’s growth trajectory. We are confident that Arcadia will thrive under the continued stewardship of the Bansk, and we wish them every success as they embark on this next chapter.”
Bart Becht, Senior Partner and Chairman at Bansk, said, “We would like to thank Mubadala for their partnership over the last four years. Their long-term perspective, active management style and commitment to responsible stewardship played a key role in accelerating Arcadia’s growth and setting the company up for sustained success.”