History
Herbal Magic was founded in 1995 by Dieter Decker, who opened his first weight loss and nutrition centre in London, Ontario. After growing the business to 228 centres nationwide (220 in Canada, and 8 under the name Nutri Magic in Michigan), Decker sold the company in December 2003 to Trivest, a Miami, Florida based private investment firm. Trivest appointed Tom McNeely of Tim Hortons as CEO, and the number of units grew by nearly 45%, to 300 stores. In the summer of 2006, Trivest hired CIBC World Markets to launch an auction of Herbal Magic. According to one source, the company was sold earlier than normal because the investment had "already exceeded all of Trivest's expectations." In October 2006, Herbal Magic was sold to TorQuest Partners.
Then in 2009, Cameron Capital, a Toronto based firm whose investments include Hair Club for Men and Beauty First, invested in the business. On February 18, 2009, the company announced a change in ownership with both TorQuest Partners and Cameron Capital making new investments in Herbal Magic Inc., including a personal investment from incoming Chairman Steve Hudson. The principles of Cameron Capital became managing partners of Herbal Magic, overseeing both strategic and daily operations.
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