Better Being Announces Strategic Transaction to Power Next Phase of Growth

Rhea-AI Summary

Better Being (XPOF) announced on December 16, 2025 that it has been acquired by a syndicate led by Snapdragon Capital Partners with financing from funds managed by Strategic Value Partners (SVP).

As part of the transaction, HGGC sold its remaining stake after an eight-year partnership. Management, investors, and lenders agreed a committed financial reserve to fund near-term acquisitions to expand the company's brand portfolio and global reach. The release notes Solaray as the flagship brand now sold in over 85 countries. William Blair led financial advising, William Hood & Company co-advised, and Kirkland & Ellis served as legal counsel.

Positive

• Acquisition by Snapdragon-led syndicate completed on December 16, 2025
• SVP financing provides structured capital support for growth
• Committed reserve established to fund near-term acquisitions
• Solaray global reach now sold in over 85 countries

Negative

• None.

Key Figures

Team members nearly 1,000 employees Better Being workforce mentioned in acquisition release

Flagship brand reach over 85 countries Solaray brand global distribution footprint

Growth duration 2 years Period of explosive growth cited for Better Being

Prior partnership length 8 years HGGC investment period before exiting Better Being

Market Reality Check

$7.43 Last Close

Volume Volume 420,834 is below the 20-day average of 659,648, suggesting limited participation ahead of this announcement. low

Technical Shares at $7.29 are trading below the 200-day MA of $8.38, reflecting a pre-existing downtrend.

Peers on Argus

Peers showed mixed moves: JOUT up 2%, MODG roughly flat at 0.09%, while PLBY fell 8.25% and JAKK declined 1.73%. With no peers in the momentum scanner and XPOF down 8.19%, recent pressure appears more stock-specific than sector-driven.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 08	Debt refinancing	Positive	-3.4%	Large new term loan and revolver to refinance debt and repurchase preferred
Nov 24	Conference participation	Neutral	+0.5%	Announcement of management presentation at Raymond James TMT & Consumer Conference
Nov 12	Management change	Positive	+1.6%	Appointment of new Chief Legal Counsel and Administrative Officer
Nov 06	Earnings release	Positive	-3.8%	Q3 2025 results with higher EBITDA and narrowed losses but lower revenue
Oct 23	Earnings scheduling	Neutral	+0.9%	Scheduling and call details for upcoming Q3 2025 results

Pattern Detected

Recent material financial and earnings updates have often been followed by negative price reactions, while conference and governance updates have seen modest gains.

Recent Company History

Over the last few months, XPOF has focused on balance sheet restructuring and operational execution. A new credit agreement with a $525 million term loan and $25 million revolver on Dec 8, 2025 was followed by a -3.39% move. Q3 2025 earnings on Nov 6 showed revenue of $78.8M, system-wide sales of $432.2M, and adjusted EBITDA of $33.5M, yet the stock fell -3.82%. Governance and conference-related news in November saw modest positive reactions, highlighting a pattern where financially intensive news has drawn selling pressure.

Market Pulse Summary

This announcement highlights a strategic acquisition and growth-focused backing for a wellness platform, while XPOF’s own recent history has centered on debt refinancing, preferred stock repurchases, and Q3 results featuring $78.8M in revenue and $33.5M in adjusted EBITDA. Investors may compare such balance sheet moves and growth narratives when assessing brand and platform scalability, capital efficiency, and how prior transactions, like the $525 million term loan, support longer-term positioning.

Key Terms

vertically integrated technical

"a vertically integrated manufacturer, marketer, and distributor of branded dietary"

Vertically integrated describes a company that owns and controls multiple steps in making and selling its products or services — for example sourcing raw materials, manufacturing, and distribution. Like a bakery that grows its own wheat, mills the flour, bakes the bread and runs the shops, this setup can lower costs, improve quality and speed to market and protect profit margins, but it also requires more capital and can reduce flexibility.

AI-generated analysis. Not financial advice.

SALT LAKE CITY, Dec. 16, 2025 /PRNewswire/ -- Better Being (the "Company"), a vertically integrated manufacturer, marketer, and distributor of branded dietary supplements and personal care products, today announced it has been acquired by a syndicate of global investors led by Snapdragon Capital Partners, LLC ("Snapdragon") with a financing solution provided by funds managed by Strategic Value Partners, LLC and its affiliates (together, "SVP"). As part of the transaction, HGGC, LLC ("HGGC") has sold its remaining stake in Better Being, exiting its investment in the Company following an eight-year partnership. A committed financial reserve has been agreed to between management, investors, and lenders to provide additional capital for near-term acquisitions that will expand the brand portfolio and global consumer reach.

"Today's announcement is an important milestone for the nearly one thousand Better Being team members and the generations of consumers that have trusted our brands to meet their wellness needs every day," said Brian Slobodow, CEO of Better Being. "We could not be more appreciative to our former investment partners, HGGC, for their years of guidance and support. We are equally appreciative of our new investment syndicate for the commitment they have shown to our winning strategy and the management team behind it. We have been operating with focus and discipline since I partnered with President and Chief Commercial Officer Kyle Garner to take the Company forward. We are a values-driven organization demonstrating a focus on respect, wellness, accountability, transparency, collaboration, and heritage-driven leadership. We're excited to work with our new partners on this next phase of growth."

"Since Snapdragon's minority investment in Better Being in 2019, our conviction in the businesses has only grown, and we see this transaction as the natural next step in our partnership," said Mark Grabowski, Managing Partner of Snapdragon. "Better Being has seen two years of explosive growth led by the Company's flagship Solaray brand, now sold in over 85 countries. We're excited to support Better Being's exceptional management team as they continue to execute against their vision of building a truly global platform for health and wellness products."

"SVP is pleased to join Snapdragon in supporting Better Being in its next phase of growth," said Brian Himot, Managing Director and Head of Structured Capital at SVP. "We see excellent potential in Better Being's vertically integrated platform and believe that its consistent focus on product quality and innovation will collectively serve to differentiate its products further to meet evolving consumer wellness needs."

"Since we first partnered with Better Being in 2017, the Company has made tremendous strides in its evolution into the globally competitive wellness platform it is today," said HGGC. "We are proud of all that we have achieved together through our collaboration and look forward to watching the continued success of the entire Better Being team as they build on this strong progress in the years ahead."

William Blair served as lead financial advisor, and William Hood & Company served as co-financial advisor, to Better Being. Kirkland & Ellis LLP served as legal counsel to Better Being.

About Better Being

Founded in 1993 in Park City, Utah, Better Being is a pioneer in the natural products industry and has grown to become one of the largest and highest quality producers in the country. Better Being is an integrated manufacturer, marketer, and distributor of branded natural products, including dietary supplements, personal care, and other natural products sold primarily through health and natural food stores, specialty stores, and online retailers in the United States and around the world in over 85 countries. Better Being manufactures and sells its products under numerous brands, including Solaray®, Zhou Nutrition®, KAL®, Dynamic Health®, ZAND®, NutraBiogenesis®, Heritage Store®, and Lifeflo®. Better Being's mission is to empower and inspire individuals to feel better and live healthier by providing the most trustworthy, pure, and innovative natural wellness solutions. More information is available at www.betterbeing.com.

About Snapdragon Capital Partners

Founded in 2018, Snapdragon Capital Partners is a growth equity and buyout firm purpose-built for ambitious growth companies that are cherished by the modern consumer. The firm has a distinguished track-record of success in Health & Wellness companies like Better Being, including Xponential Fitness (NYSE: XPOF), Fullscript, Spartan Fitness Holdings, and JECT. More information is available at https://snapdragoncap.com/

About SVP

SVP is a global alternative investment firm that focuses on special situations, private equity, opportunistic credit, and financing opportunities. The firm uses a combination of sourcing, financial, and operational expertise to unlock value in its portfolio companies. Today, SVP manages approximately $22 billion in assets under management and, since inception, has invested more than $57 billion of capital. The firm, established by Victor Khosla in 2001, has over 200 employees, including more than 100 investment professionals, across its main offices in Greenwich (CT), New York and London, and presences in Tokyo and Dubai. Learn more at www.svpglobal.com.

About HGGC

HGGC is a values-driven, partnership-focused private investment firm. The firm's ecosystem of investors, operators, and professionals are united by the shared mission to develop leading enterprises and build long term value together. HGGC invests in technology, business services, financial services and consumer enterprises. The firm is based in Palo Alto, CA and manages over $9.5 billion in assets under management (as of September 30, 2025). More information, including a complete list of current and former investments, is available at www.hggc.com.

Rachel Shiramizu
Director of Growth Marketing
rshiramizu@betterbeing.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/better-being-announces-strategic-transaction-to-power-next-phase-of-growth-302643944.html

SOURCE The Better Being Co.

FAQ

Who acquired Better Being (XPOF) on December 16, 2025?

A syndicate of global investors led by Snapdragon Capital Partners with financing from funds managed by Strategic Value Partners (SVP).

What happened to HGGC's stake in Better Being (XPOF)?

HGGC sold its remaining stake and exited the company after an eight-year partnership.

Will Better Being (XPOF) receive funding for acquisitions after the transaction?

Yes — management, investors, and lenders agreed a committed financial reserve to support near-term acquisitions.

Which Better Being brand is cited as driving recent growth and where is it sold?

The flagship Solaray brand is cited and is sold in over 85 countries.

Which advisors worked on the Better Being (XPOF) transaction?

William Blair served as lead financial advisor, William Hood & Company as co-financial advisor, and Kirkland & Ellis as legal counsel.

What is the strategic aim of the new investor syndicate for Better Being (XPOF)?

The syndicate intends to fund growth and expand the company's brand portfolio and global consumer reach through acquisitions and investment.