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.
Read more about this topic: Herbal Magic
Famous quotes containing the word history:
“We are told that men protect us; that they are generous, even chivalric in their protection. Gentlemen, if your protectors were women, and they took all your property and your children, and paid you half as much for your work, though as well or better done than your own, would you think much of the chivalry which permitted you to sit in street-cars and picked up your pocket- handkerchief?”
—Mary B. Clay, U.S. suffragist. As quoted in History of Woman Suffrage, vol. 4, ch. 3, by Susan B. Anthony and Ida Husted Harper (1902)
“The best history is but like the art of Rembrandt; it casts a vivid light on certain selected causes, on those which were best and greatest; it leaves all the rest in shadow and unseen.”
—Walter Bagehot (1826–1877)
“The history of all hitherto existing society is the history of class struggles.”
—Karl Marx (1818–1883)