Swander Pace Capital Completes Sale of Renew Life to Clorox Company

SAN FRANCISCO & NEW YORK–(BUSINESS WIRE)–Swander
Pace Capital, a leading private equity firm specializing in
investments in consumer products companies, has completed its sale of Renew
Life, a global leader in probiotics and other digestive care
supplements, to Clorox Company for $290 million.

During Swander Pace’s partnership with Renew Life, the company has grown
into the No. 1 brand of probiotics in the natural channel, with a
rapidly growing share in the food, drug and mass channel.

“This sale to Clorox is the culmination of years of dedication to
growing a company focused on improving lives through better digestive
health,” said Corby Reese, managing director at Swander Pace. “Stan and
Brenda Watson were decades ahead of the mainstream when they founded
Renew Life, and the company has been instrumental in bringing probiotics
and digestive health into much broader public awareness. We’re proud to
have worked with the Renew Life team to build such a respected industry
leader.”

“The Swander Pace team has been an incredible partner to help us reach
new heights,” added Ron Fugate, Renew Life’s CEO. “Their guidance and
operational expertise set us on a path for accelerated growth and
allowed us to attract the interest of a new strategic partner with a
tremendous track record in best-in-class consumer products.”

“We are grateful to Ron and his team for their partnership and trust
over the last several years,” added Heather Smith Thorne, managing
director at Swander Pace. “Together, we were able to build a recognized
leading industry brand that is at the forefront of an exciting growth
category. We’re looking forward to watching them continue to grow with
their new partner and wish them the best on the road ahead.”

Rothschild acted as financial advisor to Swander Pace on the transaction.

About Swander Pace Capital

Swander Pace Capital is a leading private equity firm specializing in
investments in growth-oriented, middle-market consumer products
companies in North America and the United Kingdom. For the past 20
years, Swander Pace Capital has pursued a consistent strategy of
investing in consumer products companies with leading market positions
in attractive, defensible niches. With cumulative equity commitments of
approximately $1.3 billion, and staff in San Francisco, New Jersey, and
Ontario (Toronto), Swander Pace Capital provides portfolio companies
with a unique mix of financial, strategic, and tactical support to
create long-term value. For more information, visit www.spcap.com.

About Renew Life

A leader in Natural Digestive Care, Renew Life Formulas was founded in
1997 by Brenda and Stan Watson on the premise that vibrant, lasting
health can only be achieved with a properly functioning digestive
system. Renew Life offers a full spectrum of award-winning,
digestive-care supplements and functional foods, formulated from the
highest quality ingredients derived from nature, with no artificial
ingredients. Renew Life stands behind the purity, potency, and efficacy
of every product they develop, and their exceptional customer service,
comprehensive educational programs, and superior manufacturing practices
set the benchmark for others in the industry.

Contacts

LANE (on behalf of Swander Pace Capital)
Jeff Segvich, 503-546-7870
jeff@lanepr.com