Kingswood Capital Management, LP and Performance Investment Partners, LLC announced that they’ve entered into an agreement to acquire The Vitamin Shoppe, an omnichannel dietary supplement retailer. The transaction is expected to close later in the second quarter of this year.

The Vitamin Shoppe, headquartered in Secaucus, NJ, is a global omnichannel specialty retail and wellness company, and provides an assortment of vitamins, minerals, sports nutrition, specialty supplements, herbs, homeopathic remedies, and green living products. Its proprietary brands include The Vitamin Shoppe, Vthrive, BodyTech, BodyTech Elite, Plnt, ProBioCare, and True Athlete. The company owns 650 retail stores under The Vitamin Shoppe and Super Supplements banners, along with its website.

“We are excited to partner with The Vitamin Shoppe team and help them build upon the success the business has enjoyed over the last forty-eight years,” stated Michael Niegsch, partner at Kingswood, and Mark Genender, partner at PIP. “We plan to make significant investments in the company’s third-party brand relationships, research and development across The Vitamin Shoppe’s owned proprietary brand portfolio, upgrades to the store fleet, and improvements to the omnichannel digital platform to deliver the best possible experience to customers. Further, The Vitamin Shoppe is the perfect partner for emerging and growing brands that can benefit from access to over 650 retail doors and The Vitamin Shoppe’s millions of loyalty members at a time in history when it is more important than ever for these brands to demonstrate success and traction in physical retail as well as online.”