Z Capital acquires minority stake of Neways
Z Capital Partners, L.L.C. announced that they have acquired the minority ownership of Neways Enterprises. As a result of the transaction, Z Capital is now the majority controlling shareholder of Neways. The funds used for the acquisition were associated with SAC Capital Advisors.
Z Capital President and Chief Executive Officer, James J. Zenni said, "We are excited to complete this acquisition and become the majority shareholder of Neways. Since Robert Conlee was appointed as CEO, Neways has improved global operations and is successfully executing a new member led Direct to Consumer (DTC) strategy. We are committed to supporting the business globally and remain as dedicated as ever to expanding Neways around the world. On behalf of the entire Board, I look forward to continuing to work with Robert and the rest of the talented Neways leadership team to expand new markets, introduce new products, and propel the Company's path of growth and success."
"This is an exciting transaction for all of us at Neways," said Robert Conlee, Chief Executive Officer of Neways. "Z Capital has been a dedicated partner since their initial investment in the Company. Z Capital is a seasoned financial sponsor committed to the Company's vision and long-term growth. With Z Capital's support, we are building and executing comprehensive growth plans for each of our global markets, while continuing to deliver the best possible products and business opportunities for our distributor community."
Neways Enterprises is the worldwide leader in healthy and effective personal care, household, and health & wellness products.