Designer Protein, LLC has purchased certain operating assets of Next Proteins, Inc., including the Designer Whey Protein sports nutrition brand and line of products, according to Partnership Capital Growth, a full-service boutique investment bank that focuses on the healthy, active and sustainable living marketplace.

Designer Protein, LLC is a subsidiary of Athena Wellness Brands, LLC, a newly formed company that is backed by GarMark Partners, Northwood Ventures and Stockton Road Capital. Partnership Capital Growth acted as the exclusive financial advisor to Next Proteins, Inc., in the deal.

“Making a decision to sell the business you founded is always difficult,” said David Jenkins, founder and CEO of Next Proteins, Inc. “Partnership Capital Growth made it easier by identifying the right buyer who would continue to build the brand alongside the existing management team.”

Partnership Capital Growth facilitated the successful transition of ownership to a value added partner, led by Cyrill Siewert, who is an accomplished consumer packaged goods and nutrition executive and will now be the chairman and CEO of the company. Mr. Siewert was most recently the CEO of Amerifit Brands, a consumer healthcare and nutrition company, and before that was the chairman and CEO of Select Nutrition, and a senior executive with The Colgate Palmolive Company and PepsiCo, among other positions.

“The sports nutrition category is one of the fastest growing consumer packaged goods segments in the U.S. today, and Designer Whey is a brand and line of products that everyone in the industry knows and loves,” said Joe Rhodes, managing partner of Stockton Road Capital. “Cyrill and I are excited to be working with and supporting the management team and a great group of investors on the opportunity to invest in and build these dynamic brands.”

“We are very pleased to have facilitated the successful transition of ownership from Mr. Jenkins to a value added partner like Stockton Road Capital and their partners Northwood Ventures and Garmark Partners,” said Brian Smith, director at Partnership Capital Growth. “We focused on finding a buyer with significant consumer packaged goods experience and a vision for building the platform with the existing team. Stockton Road Capital’s deep nutrition expertise fit perfectly with Next Proteins’ team and foundation.”

Next Proteins, Inc., was represented by Partnership Capital Growth and the buyer group received legal counsel from Finn Dixon & Herling LLP, accounting advice from Moss Adams LLP and industry advice from New England Consulting Group. Additionally, Designer Protein has initiated a banking relationship with the Union Bank of California.