IAFSTORE® Receives Significant Investment from L Catterton Europe
BRESCIA, Italy and GREENWICH, Connecticut, July 17, 2020 /PRNewswire/ -- IAFSTORE®, the leading online supplements store in Italy and one of the major European players in this segment, today announced that it has received a significant strategic investment from the European Fund of L Catterton, the largest and most global consumer-focused private equity firm. The investment will be used to support the Company's expansion in the fast-growing Italian online supplement market. Terms of the transaction were not disclosed.
Founded in 2007 as an e-commerce distributor of third party products, IAFSTORE® has become the industry-leading online platform specialized in sports nutrition, food supplements, over-the-counter ("OTC"), and healthy products. In 2012, IAFSTORE® launched its first owned brand, YAMAMOTO®, which quickly became a food supplement leader, providing nutritional products dedicated to millions of fitness enthusiasts and athletes all over the world. Today IAFSTORE® has seven branded products under the brand names Yamamoto® Nutrition, Yamamoto® Research, IAFSTORE®, OneProtein, Alphazer®, Yamamoto® Active Wear, and Smile Crunch, offering a broad selection of high quality supplements.
"This investment is a testament to the tremendous efforts and hard work of the IAFSTORE® team and we are pleased to partner with L Catterton as we further accelerate our efforts to increase market share," said Alessandro Coradi, co-founder of IAFSTORE®. "L Catterton has a deep understanding of the consumer and a successful track record of building leading health and wellness companies. We are excited to be among many leading brands in L Catterton's impressive portfolio."
"Italy is the largest market in Europe for sports nutrition and supplements and in IAFSTORE®, we saw an opportunity to invest in an e-commerce leader operating in an attractive, yet fragmented market," said Luigi Feola, Managing Partner, L Catterton Europe. "As the largest direct-to-consumer platform in Italy with a differentiated value proposition, we believe the Company can further penetrate adjacent customer segments by leveraging existing dedicated brands. We look forward to partnering with Alessandro, Stefano, and the rest of the talented management team to accelerate IAFSTORE's expansion and solidify the Company's leading position in the growing Italian market."
"IAFSTORE® has achieved significant growth since Alessandro and I founded the Company in 2007 and this partnership with L Catterton will help take our platform to the next level," added Stefano Coradi, co-founder of IAFSTORE®. "By leveraging L Catterton's unparalleled knowledge of the health and wellness sector, IAFSTORE® will have the expertise necessary to expand our reach in the sports nutrition and supplements industry. We look forward to working closely with L Catterton to continue our strong growth trajectory."
L Catterton has significant experience investing in the health and wellness sector. Current and past investments include Zarbees, TULA, Peloton, Pinarello, Ideal Image, Bodytech, Nutrafol, and CorePower Yoga, among numerous others.
IAFSTORE's shareholders were advised by Ethica Corporate Finance and Allen & Overy, and L Catterton was advised by OMMAX, KPMG, Nctm, Malk Partners, and Ales Market Research.
Financing of the transaction was provided by Antares AZ I, a private debt fund managed by Azimut Libera Impresa SGR, assisted by Orrick Herrington & Sutcliffe.
About IAFSTORE
Headquartered in Brescia, Italy, IAFSTORE® is the leading Italian online supplements store and one of the major European players in this space. With four key sectors (drugstore, herbalist's shop, organic foods, and sports nutrition), IAFSTORE® is the leading online platform specializing in high quality sports nutrition, food supplements, over-the-counter, and healthy products, which relies on a database of approximately 700,000 profiled customers across its two websites (www.iafstore.com and www.yamamotonutrition.com).
About L Catterton
With approximately $20 billion of equity capital across seven fund strategies in 17 offices globally, L Catterton is the largest consumer-focused private equity firm in the world. L Catterton's team of nearly 200 investment and operating professionals with management teams around the world to implement strategic plans to foster growth, leveraging deep category insight, operational excellence, and a broad partnership network. Since 1989, the firm has made over 200 investments in leading consumer brands. L Catterton was formed through the partnership of Catterton, LVMH, and Groupe Arnault. For more information about L Catterton, please visit www.lcatterton.com.
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