The Nature’s Bounty Co., a global manufacturer, marketer and distributor of health and wellness products, has closed on a transaction with global investment firm, KKR, which is now the majority owner of Nature’s Bounty. Equity capital for the transaction was primarily provided from KKR’s Americas XII fund.
 
Effective upon the transaction close, consumer healthcare veteran Paul Sturman will assume the role of chief executive officer of Nature’s Bounty. Mr. Sturman succeeds Steve Cahillane, who is stepping down to pursue another opportunity.
 
“Paul is a very well regarded leader in the consumer healthcare space, having grown and transformed several companies and brands over the years,” Nate Taylor, head ofconsumer retail at KKR, said.  “He’s a great fit to lead Nature’s Bounty in its next stage of growth.”
 
“I am honored to join the team at Nature’s Bounty and to lead this impressive platform,” said Mr. Sturman. “There are tremendous opportunities to grow Nature’s Bounty’s footprint in this rapidly expanding global wellness industry, and I look forward to working with the many talented people at Nature’s Bounty to provide the Company’s valued customers with the world’s best health and wellness offerings.”  
 
“It has been such a privilege to lead Nature’s Bounty over the last three years. Leaving the company was a very hard decision for me; however, I rest assured seeing the growth trajectory Nature’s Bounty is on and how it is poised for success in the experienced hands of Paul Sturman. I look forward to seeing great things from Nature’s Bounty in the future,” added Steve Cahillane.
 
Mr. Sturman has a strong track record of more than 30 years of experience in the consumer healthcare sector with Pfizer, Johnson & Johnson, and Warner-Lambert. He spent six years successfully leading Pfizer’s $3+ billion Consumer Healthcare business (formerly Wyeth), one of the largest over-the-counter (OTC) healthcare products companies in the world with major household brands such as Advil, Centrum, Chapstick, Nexium 24Hour, Robitussin, and Emergen-C. He also served as president of Johnson & Johnson’s North American Consumer Health Care business, where he was responsible for more than 30 brands including Listerine, Band-Aid, Stayfree, Monistat, Rogaine, Neosporin, and Visine.
 
Mr. Sturman previously served as chairman of the Consumer Health Products Association (CHPA). He is currently a Trustee of the Foundation for Morristown Medical Center, one of “America’s Top 50 Hospitals” and is also on the board of directors of Tyme Inc., a clinical-stage biotechnology company using cellular metabolism and oxidative stress to develop cancer therapeutics with low toxicity profiles.