Middle-market private investment company Highlander Partners has acquired Gimbal Brothers, a manufacturer of gummy vitamins and gourmet jelly beans.
Highlander Partners has also formed Bettera Brands to pursue confection and snack acquisitions.
Bettera Brands aims to target acquisitions of companies and assets that have excellent brand value and robust growth potential.
Highlander president and Bettera chairman Jeff Hull said: “Highlander’s forte is a ‘buy and build’ strategy in fragmented industries, which we have executed successfully in several categories.
“Establishing Bettera Brands in conjunction with our acquisition of Gimbal’s shortly after we acquired Hillside will provide a launchpad for additional transactions. This is just the beginning of our long-term vision.”
Gimbal Brothers has been in business for more than hundred years. Based in San Francisco, Gimbal Brothers is said to have fully integrated manufacturing capabilities.
Besides, the company’s production facility has SQF Level 3, NSF/CFR111 certifications for vitamins and dietary supplements. Its products are available in most national retailers in North America.
Gimbal’s existing owners have joined Bettera Brands and will work with the new owner to support the gummy vitamins and gourmet jelly beans brand.
Bettera Brands CEO and Gimbal former COO Estle Kominowski said: “As a result of attractive market dynamics, diverse product offerings, and solid operational strength, Gimbal’s has experienced strong financial performance that will continue under the Bettera umbrella.
“The combined product offering will enhance the Company’s success in further penetrating current customers while adding new ones and positions the Company for exceptional performance in the future.”
In another development, Bettera Brands has been consolidated further with the addition of Hillside Candy, a portfolio company of Highlander.
The Dallas firm has also added the Hillside brands of GoOrganic, Pick Your Color, GoLightly and Hillside Candy to the portfolio of Bettera Brands.
Bettera’s portfolio now features organic and sugar-free hard and chewy confections, gourmet jelly beans, licorice and traditional hard candy, and gummy vitamins.
The new company also intends to take in nutraceutical ingredients and essential oils into confectionery delivery systems to tap into the growing trend in the nutraceutical segment.
