MONTREAL, March 18, 2024 /PRNewswire/ – Goli Nutrition Inc., an inventive, people focused nutrition company, announced today that it is entering into a definitive acquisition agreement with a group that includes Group KPS, Bastion Capital and one of the company’s original founders under which this group will acquire Goli.
The transaction will strengthen Goli’s balance sheet and position the company to drive growth, including into new markets, invest in new product innovation, and build on its partnerships with retailers globally. Goli has over 5 million customers on its direct to consumer platform, as well as long-standing strategic partnerships with leading US retailers supported by an efficient international supply chain and global distribution network.
Group KPS is a healthcare company with an extensive distribution network in Latin America. Group KPS currently distributes Goli products in Mexico and has a deep understanding of its brand and the potential for growth, in North America and internationally. Bastion Capital has an extensive track record of financing and supporting successful consumer-based businesses.
With the backing of strong, well-capitalized sponsors and an extraordinary brand with industry-leading customer loyalty, the transaction will allow Goli to continue to operate and innovate with far greater strength and better positioned for success and sustainable future growth.
“Group KPS is a long-standing distributor of Goli products, and we see strong long-term potential in the company’s iconic brand, exceptional product quality, and high repeat purchase rates across its loyal consumer base,” said Felipe Preciado, CEO of Group KPS. “We are excited to enter into this acquisition to enable Goli to unlock new growth opportunities and do what it does best in bringing innovative products to consumers worldwide.”
As part of the transaction, Goli is retaining members of the original management team who bring a deep understanding of the business and a history of success in the industry, and who are committed to carrying out Goli’s mission of delivering high-quality, efficacious products and making health simple, enjoyable and delicious.
The transaction, which has the full support of the company’s lenders, is part of a pre-packaged process under the Companies’ Creditors Arrangement Act (CCAA) in Canada. The company obtained an initial order from the Superior Court of Quebec on March 18, 2024, which provides for, among other things, a stay of proceedings that will allow the company to move forward with the transaction.
The transaction remains subject to court approval in Quebec and the US. During this process, the company’s operations will continue uninterrupted in the ordinary course of business, and it will continue to deliver its products to its valued customers, distributors and retailer partners worldwide.
Canaccord Genuity Corp. is acting as financial advisor and Bennett Jones LLP is acting as legal counsel to the acquirer group. Davies Ward Phillips & Vineberg LLP is acting as legal counsel to Goli.
About Goli Nutrition
Goli® Nutrition is an inventive, people focused nutrition company committed to providing innovative products that make taking your daily supplements enjoyable. Goli Nutrition’s products are formulated with quality ingredients you can pronounce and flavors your taste buds will enjoy! At the core of it all, Goli Nutrition leads with purpose, attaining B Corp Certification for their Goli for Good initiatives. To purchase Goli products or for more information, please visit www.goli.com.
SOURCE Goli Nutrition
