MINNEAPOLIS — Norwest Equity Partners on Monday announced that it has acquired Apothecary Products from Terry Noble, founder and CEO of Apothecary. The transaction closed Feb. 28, 2014; financial terms were not disclosed.
Apothecary offers its customers a one-stop-shop solution with both over-the-counter consumer health products and behind-the-counter pharmacy supplies, spanning across three categories, including pharmacy supply, medication management and home health care.
"NEP’s investment capital, coupled with their experience in the consumer healthcare products industry and working with family-owned businesses, will help Apothecary continue to achieve its growth plans and mission of designing and sourcing the most innovative and critical pharmacy products available.” Post-transaction, Noble will remain as an Apothecary investor.
NEP has been investing in middle market companies since 1961 and has experience working with both Minnesota-based companies, as well as companies focused within the consumer products and services industry. Notable Minnesota-based investments over the years include Life Time Fitness, Shock Doctor, Minnesota Rubber & Plastics, Gopher Resource, Norwesco, Select Comfort and Lindstrom Metric.