Winston, Bass Berry Steer Kainos' $575M Nutrisystem Buy

By Rachel Stone (October 19, 2020, 5:32 PM EDT) -- Private equity firm Kainos Capital, led by Winston & Strawn, said Monday it will shell out $575 million in cash to buy Nutrisystem from Bass Berry-advised health program provider Tivity Health.

This deal will see Tivity's divestment of the nutrition business, including weight-loss brands Nutrisystem and South Beach Diet, which Tivity acquired for around twice as much — $1.3 billion — in 2018. Kainos Capital's acquisition marks the firm's continued investment in health-focused businesses, following its purchase and 2018 sale of SlimFast.

Tivity said the sale will allow the Tennessee-based company to pay down its debt, and streamline Tivity's business. It...

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