FitLife Brands has agreed to acquire Irwin Naturals, a nutraceutical company based in the Silicon Beach area of Los Angeles, to expand its market presence.
The transaction, valued at $42.5m, is planned to be carried out under Section 363 of the US Bankruptcy Code, and is expected to close by 8 August 2025.
By acquiring nearly all assets of Irwin Naturals, a well-established player in the nutritional supplements sector, FitLife would nearly double its size.
The combined entity is projected to generate over $120m in revenue and an adjusted EBITDA between $20m and $25m in the first full year of operation.
FitLife intends to fund the acquisition using its cash reserves, a new term loan of $40.625m, and an increased $10m revolving credit facility from First Citizens Bank.
The transaction will result in a pre-synergy total leverage of less than 2.25x EBITDA at closing and includes $16m of net working capital.
FitLife CEO Dayton Judd said: “We are thrilled to welcome the Irwin brands and team members to the FitLife family.
“Irwin Naturals is a brand we have known and admired for a long time. We believe that our complementary sales channels and product portfolios will benefit both businesses, and we are excited for what the future holds.”
Founded in 1994, Irwin Naturals offers a diverse range of nutritional supplements.
It generates 61% of its revenue from mass market customers, including CVS, Walmart, Walgreens, and Costco Canada.
FitLife will acquire most of Irwin’s assets while assuming minimal liabilities.
The acquisition aligns with FitLife’s goals, as Irwin’s products complement its offerings, particularly in weight loss, sexual wellness, and body cleanse segments.
Irwin’s strong presence in food, drug, and mass market channels will bolster FitLife’s revenue growth.
FitLife plans to leverage its online sales expertise to enhance Irwin’s e-commerce presence, aiming to internalise revenue streams and achieve higher gross margins.
Operational synergies are expected to result in $1.5m in SG&A savings, with FitLife retaining around 50 Irwin employees.
