Deal Details

Foundation Wellness Is Acquired by Bansk

Consumer

Foundation Wellness, a portfolio company of Gridiron Capital, sale to Bansk

Summary

Foundation Wellness (the “Company”), formerly known as Remington Products Company, a portfolio company of Gridiron Capital, LLC (“Gridiron Capital”), recently entered into a definitive agreement to be acquired by Bansk Group (“Bansk”). The transaction is subject to customary closing conditions and regulatory approvals. Terms of the transaction were not disclosed.

Baird served as lead financial advisor to Foundation Wellness on this transaction.

About

Foundation Wellness is a leading health and wellness company that provides a comprehensive offering of innovative solutions for improved comfort, wellness and pain relief. Operating as a platform of leading and differentiated brands, Foundation Wellness focuses on designing, marketing and manufacturing premium semi-custom orthotics, insoles and broader consumer wellness solutions. Its brands include PowerStep and Currex – two of the most preferred and top-rated brands by consumers and clinicians – as well as Foot Petals, Flat Socks and Doctor Hoy’s. By working with podiatrists, chiropractors, physical therapists and other clinicians to develop effective wellness solutions, PowerStep is currently the top podiatrist recommended orthotic and Currex maintains strong growth opportunity within the specialty run channel. The Company was founded in 1934 as Remington Products Company and is headquartered in Wadsworth, Ohio.

Gridiron Capital is an investment firm focused on partnering with founders, entrepreneurs and management teams and creating value by building middle-market companies into industry-leaders in branded consumer, B2B and B2C services and niche industrial segments in the United States and Canada. They help transform growing companies by winning together through hard work, partnerships grounded in shared values and a unique culture that comes from hands-on experience building and running businesses. As a team led by former operators and entrepreneurs, Gridiron Capital knows what it takes to run successful businesses on a day-to-day basis. Gridiron Capital is headquartered in New Canaan, Connecticut.

Founded in 2019, Bansk is a private investment firm focused on investing in and building distinctive consumer brands. The firm partners with differentiated brands across four primary consumer categories: beauty & personal care, consumer health, food & beverage and household products. Over their careers with Bansk and elsewhere, Bansk's tenured group of investors and operators have been involved in more than $30 billion of equity capital investments across more than 40 transactions with some of the most innovative and well-known consumer companies in the world. With extensive investment experience in the consumer products industry, a global network of relationships and a tested value creation playbook, Bansk seeks to partner with exceptional founders and management teams to drive outsized organic and acquisitive growth and position brands for enduring long-term success in the evolving consumer landscape. Bansk is headquartered in New York, New York.

Consumer

Foundation Wellness, a portfolio company of Gridiron Capital, sale to Bansk