Wellful acquires Ancient Nutrition to enhance its presence in health, wellness industry

USA – Wellful, a US-based supplements and weight-management business, has acquired fellow health-focused company Ancient Nutrition to strengthen its position in the health and wellness sector.

Ancient Nutrition, founded in 2016 by Jordan Rubin and Josh Axe, offers products such as collagen protein powders and whey protein.

The acquisition was reported by Wellful’s private-equity owner, Kainos Capital, and Ancient Nutrition’s investors, including VMG Partners and Hillhouse Investment. Financial terms of the deal were not disclosed.

Wellful expects the acquisition to expand its omnichannel presence across various vitamin, mineral, and supplement (VMS) categories.

The company also aims to broaden its distribution into the natural retail channel. David Gassko, a partner at Kainos Capital, said the acquisition positions Wellful as the largest independent VMS platform in North America.

Ancient Nutrition has gained a reputation as a leading brand in the VMS sector, particularly in the natural channel, where it has become the largest collagen brand.

Ancient Nutrition’s product range focuses on protein, digestive health, and greens, offering GMO-free, gluten-free, dairy-free, soy-free, grain-free, and nut-free options.

The brand has experienced significant growth since its inception and received US$103 million in funding in March 2018 from a group of investors to expand its operations.

Wellful CEO Brandon Adcock expressed enthusiasm for the acquisition, stating that Ancient Nutrition is a strong addition to Wellful’s portfolio and underscores its commitment to the VMS industry.

Adcock highlighted the trust customers have in Ancient Nutrition’s products and the opportunity to further strengthen and expand the brand’s offerings.

Wellful’s portfolio includes a variety of scientifically formulated solutions across brands such as Nugenix, Peptiva, Doctors’ Preferred, Nutrisystem, and Jenny Craig, the latter of which it acquired in July 2023.

Colt Morton, CEO of Ancient Nutrition, will continue to lead the company under Wellful’s ownership. Morton described the partnership with Wellful as an exciting new chapter, emphasizing shared values and a mutual vision for innovation.

He noted that Wellful’s resources will enable Ancient Nutrition to reach a wider audience while staying true to its mission and culture.