May 4, 2021 CHICAGO – Akoya Capital, LLC (“Akoya”), a Chicago-based private investment firm, along with Lakeview Equity Partners, LLC and Greyrock Capital Group, LLC, announced today the sale of NutriScience Innovations, LLC (“NutriScience” or the “Company”), to Tilia Holdings, a Chicago-based private equity firm focused on investments across the food supply chain.
NutriScience, based in Milford, CT, develops and markets branded, highly differentiated nutritional ingredients that are sold to a variety of customers including leading, “blue-chip” supplement and wellness brands. Akoya acquired NutriScience from the founding family in 2017, and Alan Yengoyan, Akoya’s Operating Partner, joined the Company as CEO. Mr. Yengoyan believed that branded ingredients should be developed and marketed like consumer products and over the past three years he has fundamentally transformed the Company to match this vision.
Max DeZara, Managing Partner of Akoya, said, “Alan Yengoyan, NutriScience, and the management team did an outstanding job in growing this platform, and we could not be more excited for NutriScience’s next chapter. With access to Akoya’s operational resources and support, the team built NutriScience into a national, leading supplier of specialty ingredients and raw materials. We look forward to seeing NutriScience continue to thrive under its new ownership. The NutriScience acquisition and subsequent exit is consistent with our investment strategy of combining world-class executives, well-positioned companies, and fully developed value creation strategies to create significant value for management and investors.”
Alan Yengoyan, Akoya Operating Partner and President and CEO of NutriScience, said, “On behalf of the NutriScience team, I’d like to thank Max and the entire team at Akoya for their support of our management team and their belief in the strategic plan we created for NutriScience. Looking ahead, the NutriScience team sees significant opportunity to continue expanding the business and is excited to partner with Tilia Holdings for the next phase of our growth.” Alan will continue in his role of President and CEO. Alantra served as financial advisor on the transaction.
About Akoya, LLC
Akoya is a sector focused investment firm that creates and nurtures partnerships between management and capital. With industry leading sector leaders, proprietary platform organizations, experienced management teams, and co-investors, we collaborate on compelling value creation opportunities. Together, we develop and execute industry sector acquisition strategies that deliver significant, measurable value for management, partners, and shareholders. (www.akoyacapital.com)
Founded in 1993 and co-located in Trumbull, CT and Chicago, IL, NutriScience is a leading developer of branded ingredients which it markets and sells in the U.S. and internationally. The Company has developed a portfolio of on-trend proprietary dietary supplement and functional food ingredients that it supplies to customers worldwide. This portfolio addresses a wide variety of current and emerging consumer needs and health concerns. (www.nutriscienceusa.com)