(MENAFN- GlobeNewsWire - Nasdaq) CHATTANOOGA, Tenn., Jan. 16, 2025 (GLOBE NEWSWIRE) -- Bridges Consumer Healthcare LLC (“Bridges” or the“Company”), a consumer healthcare platform made up of nine over-the-counter (“OTC”) and personal care brands, today announced the Acquisition of KT® Tape (“KT”), the leading kinesiology tape brand designed to provide drug-free pain relief and support for muscles, tendons and ligaments. The strategic move diversifies and strengthens Bridges' portfolio of specialty OTC brands, increasing the Company's scale and positioning Bridges for accelerated organic growth and further add-on opportunities. Terms of the transaction were not disclosed.
Founded in 2008, KT Tape has been a pioneer in providing drug-free, innovative solutions to prevent and relieve pain and promote recovery. The company partnered with Palladin Consumer Retail Partners (“Palladin”) in 2014 and has earned high customer advocacy with products that appeal to all consumers from professional athletes to those seeking effective relief from everyday pain and soreness. KT is a category leader used by notable athletic organizations including the U.S. Olympic and Paralympic Teams. The addition of KT to Bridges represents the next phase of growth for the brand, with further investment in demand generation, product innovation and omnichannel distribution as part of the Bridges platform. KT is also the fourth acquisition completed since the inception of Bridges and opens the door for additional opportunities for accretive M&A.
“We are excited to join forces with KT Tape to advance our shared goal of delivering innovative over-the-counter healthcare solutions to improve our customers' everyday health and quality of life,” said John Speranza, CEO at Bridges Consumer Healthcare.“KT's innovative solutions enhance Bridges' already-strong position in pain relief, alongside our current brands in the external pain category, ThermaCare and Absorbine Jr. As we begin executing on our vision for growth, we look forward to exploring partnerships with similar brands that can help us scale further.”
“Today's announcement marks an exciting new chapter for KT, positioning us to reach more customers and continue to drive meaningful innovation through the added scale of the Bridges platform,” said Jessica Klodnicki, CEO at KT Tape.“We have been impressed by Bridges' leadership and depth of expertise across several consumer health verticals, as well as the Company's steadfast focus on its customers. We are thrilled to have found another collaborative strategic partner that shares a similar vision for the future of our business.”
Bridges was founded in 2020 by a team of industry executives and Charlesbank Capital Partners to build a market-leading consumer healthcare platform. Since its formation, Bridges has executed on this mission, acquiring nine brands focused on pain relief, women's health and supplements, and accelerating double-digit growth through strategic marketing, innovation and a diverse range of sales channels, including e-commerce and B2B partnerships.
“Since its formation, Bridges has demonstrated a strong track record of growth, scaling both organically and through M&A, and we are thrilled to welcome another marquee brand like KT to the Bridges family,” said Jesse Ge, Principal at Charlesbank.“This marks an exciting milestone for the Bridges team, as they continue to build a leading consumer healthcare company.”
Mark Schwartz, CEO of Palladin, added,“It has been a pleasure working with the founders of KT, Jessica and the entire leadership team to build a leading consumer product company providing health and wellness solutions for athletes at all levels. We're confident that Bridges will be a good platform for KT's next stage of growth.”
Weil, Gotshal and Manges served as legal counsel to Bridges and Charlesbank. Palladin and KT were represented by Houlihan Lokey and advised by Latham & Watkins, RSM US and Andersen.
About Bridges Consumer Healthcare: Based in Chattanooga, Tennessee, Bridges' mission is to build a leading consumer healthcare company focused on OTC and personal care products and driven by consumer-led innovation and marketing. For more information, please visit .
About KT Tape: Based in Utah and founded in 2008, KT® has revolutionized the sports medicine industry with technologically advanced and widely recognized kinesiology tape and recovery products. KT Tape kinesiology tape provides localized increase in blood flow to relieve pain and provide support for muscle pain and common injuries. KT is recommended by physical therapists and athletic trainers for pain relief and support of muscles, ligaments, and tendons. And now, KT has introduced a line of KT Health products to include topical pain relief, diabetes care, ice/heat treatment, footcare, and more. KT Health products are designed to revolutionize the way consumers prepare, perform, and recover from all types of physical activity. The purpose of KT is to provide solutions that empower movement to unleash every body's potential for everyone from everyday athletes to the pros. For more information, please visit .
About Charlesbank: Based in Boston and New York, Charlesbank Capital Partners is a middle-market private investment firm with approximately $19 billion of assets under management as of September 30, 2024. Charlesbank focuses on management-led buyouts, growth capital financings, opportunistic credit, and technology investments. The firm seeks to invest in companies with sustainable competitive advantage and excellent prospects for growth. For more information, please visit:
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About Palladin Consumer Retail Partners: Palladin Consumer Retail Partners (“PCRP” or“Palladin”) is a Boston-based private investment firm, founded in 1998, that focuses primarily on the retail and consumer products sectors in North America and Europe. The Palladin team has a strong investment and operating track record, having invested in, financed, or managed over 100 public and private retail and consumer products companies. Palladin prides itself on working closely with management teams to create value through strategic and operational initiatives. For more information, please visit .
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