Thorne Research Announces Combination with Diversified Natural Products
Source: Thorne Research
SANDPOINT, IDAHO (June 23, 2010)- Thorne Research, Inc. announced that it has merged with Diversified Natural Products (DNP). The combination of the two companies joins the clinically researched product portfolio of DNP with the hypo-allergenic, exceptionally formulated product line of Thorne. WestView Capital Partners and Tudor Ventures provided acquisition and growth financing in the transaction. The combined entity will continue to operate as Thorne Research and will implement an aggressive growth strategy to provide the highest quality nutritional formulas available exclusively through licensed medical professionals.
Joining the Thorne management team will be four industry veterans who will assist the Company in expanding its product portfolio, developing strategic alliances and growing its geographical footprint. The team will be led by CEO Paul Jacobson, former CEO of DNP, and by COO Tom McKenna formerly with Bristol–Meyers Squibb. Additionally, Will McCamy, former President of Xymogen, will join Thorne as President and Head of Sales and Marketing; while Dr. Robert Rountree, a highly regarded MD and opinion leader, will join as Chief Medical Officer, bringing vast experience as an integrative medical practitioner. Thorne will maintain a consulting relationship to pursue quality and development initiatives with Al Czap, who will retain a minority interest in the company.
“DNP’s management team has spent three years working with Thorne’s founders Al Czap and Kelly Czap to effectuate a partnership that we believe best serves Thorne’s customers. We are deeply committed to the Thorne mission, which has always been to provide its’ customers with the highest quality hypo-allergenic formulas. Our goal is to give our customers more formulas with clinical evidence, exceptional service, and keep the company on the cutting edge of new research in the natural product field,” said Paul Jacobson.
Al Czap added, “This partnership merges Thorne’s commitment to quality manufacturing and product excellence with a set of science-based products that will be well received by medical practitioners. I believe this approach and the leadership of Paul and his team will accelerate Thorne’s market leading position.”
About Thorne Research
Since 1984, Thorne Research has set the standard for exceptional quality manufacturing and formulation of hypo-allergenic, premium natural dietary supplements sold through licensed health care practitioners for use by their
patients. Thorne’s over 230 dietary supplements are recognized by health care practitioners around the world as being the finest, purest, highest quality dietary supplements available. Located in Sandpoint, Idaho, Thorne Research operates a state-of-the-art manufacturing facility, employing over 160 people. Further information on Thorne is available at http://www.thorne.com.
About Diversified Natural Partners
Diversified Natural Products develops novel, clinically proven and patent-protected specialty nutritional supplements for distribution through healthcare providers, particularly physicians. Located in New York, NY, the company has products which support cardiovascular, gastrointestinal and metabolic health and joint and arthritis pain.
About WestView Capital Partners
WestView Capital Partners is a private equity firm focused exclusively on lower middle market companies. WestView partners with existing management teams to sponsor minority and majority recapitalizations, growth, and consolidation transactions in a wide range of industries including business services, software, healthcare services, industrial/manufacturing, media/publishing and consumer/retail. WestView targets companies with operating profits between $3 million and $20 million with investment sizes ranging from $5 million to $30 million. WestView is located in Boston, Massachusetts and more information is available at www.wvcapital.com.