Park City-based Nutraceutical International Corp. has announced the appointment of Monty Sharma as its new CEO. Sharma was most recently president and CEO of Jenny Craig, a weight loss and health industry company in Carlsbad, California. He has also been CEO of multiple other consumer health and wellness companies, including Curves International, Atkins Nutritionals Inc., juice brand Naked Juice and nutritional products company EAS.
“I am inspired by and looking forward to being a part of the Nutraceutical team, as I see a strong alignment of the company’s purpose with my passion for helping people live healthier lives,” said Sharma. “Nutraceutical, through its established brands … is focused on delivering premium-quality natural products for living a healthier life. I am buoyed by that history, and I look forward to propelling Nutraceutical in new ways to help bring better health to more consumers.”
HGGC, a middle-market private equity firm, acquired Nutraceutical in August 2017. Snapdragon/The Maze Group, who invested in Nutraceutical in July 2019, selected Sharma for his deep expertise in building strong brands in the health and wellness industry, according to a release from the company. Sharma replaces Chad Clawson, an HGGC operating partner, who lead Nutraceutical through the first phase of HGGC’s post-acquisition value creation plan.
“We are thrilled to welcome Monty to Nutraceutical and we are confident that the breadth and depth of his industry knowledge will help take Nutraceutical and its brands to the next level of growth,” said Les Brown, partner at HGGC and chairman of Nutraceutical. “We believe in Monty’s leadership and in Nutraceutical’s ability under Monty’s charge to continuously evolve and innovate to deliver quality products to its loyal and new customers.”
Founded in 1993 Nutraceutical is an integrated manufacturer, marketer and distributor of branded natural products, including supplements, personal care and other natural products sold primarily through domestic health and natural food stores, as well as specialty stores and online. The company employs about 800 people.