Bridges Consumer Healthcare, LLC, a consumer healthcare platform comprised of nine over-the-counter (OTC) personal care brands, including ThermaCare and Absorbine Jr., has acquired KT Tape, the kinesiology tape brand designed to “provide drug-free pain relief and support for muscles, tendons and ligaments.”
The acquisition “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 was acquired by Palladin Consumer Retail Partners, previously known as Palladin Capital Group, in 2014.
Bridges said the addition of KT Tape to its portfolio represents the brand’s next growth phase, with further investment in demand generation, product innovation and omni-channel 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 of 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 of 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.”
In a LinkedIn post, Klodnicki said she was “extremely proud of the work the KT team has done over the last 2.5 years.”
“We are excited to join forces to continue to deliver top-notch serice to our customers, consumers and partners,” Klodnicki continued in the post.
Bridges was founded in 2020 by a team of industry executives and Charlesbank Capital Partners to build a consumer healthcare platform. Since its formation, the investment firm said that it 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 products 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.
Image courtesy KT Tape
