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New Developments at North Castle Partners

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By: Sean Moloughney

Editor, Nutraceuticals World

North Castle Partners, Greenwich, CT, and Golden Gate Capital, San Francisco, CA, have initiated a $650 million capitalization of Leiner Health Products, Carson, CA, that involves a sale of North Castle’s existing majority stake in the company. As part of the re-capitalization, Golden Gate, and a new fund investment vehicle managed by North Castle, will invest approximately $265 million and will be the co-sponsors of Leiner. Leiner’s management team will retain a significant ownership in the company.

In other news, North Castle has ac­quired a controlling interest in HDS Cosmetics Lab, Inc., Yonkers, NY. HDS manufactures and markets the DDF (Doctor’s Dermatologic Formula) doctor-developed and clinically formulated cosmeceutical skin care brand.

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