Mubadala Investment Company, owned by the Abu Dhabi government, has announced the sale of its minority stake in Arcadia Health Products, a company based in the United States, coinciding with the acquisition of Arcadia by funds managed by the Panks Group.
Philip Yefy Bao, Director of Private Investments at Mubadala, expressed pride in the fruitful collaboration with the Panks Group, Mike Dibiase, and the Arcadia team over the past four years. He highlighted Mubadala’s role in supporting Arcadia’s transformation into a leading platform in the North American health and personal care sectors. This transformation was attributed to a combination of factors, including the acceleration of the company’s organic growth and successful strategic acquisitions, such as Afriyo and Closis.
During the partnership, Arcadia’s revenues tripled, reflecting a significant increase in profits, which demonstrates the efficiency of the team and the upward trajectory of the platform’s growth. Bao affirmed his confidence that Arcadia will continue to prosper under Panks’ leadership.
Bart Bight, Senior Partner and Chairman of the Panks Group, expressed gratitude to Mubadala for their collaborative partnership over the past four years. He noted that their long-term vision, effective management approach, and commitment to responsible oversight have played a crucial role in accelerating Arcadia’s growth and positioning it on a sustainable path for long-term success.