TPG Growth buys a stake in Schiff Nutrition

Private equity firm TPG Growth has acquired a 25 percent stake in Schiff Nutrition International, a Utah-based manufacturer of private label vitamins and health foods, for $48.8 million. Schiff bought 7.487 million shares of Class B common stock, which automatically converted to Class A common stock on a one-to-one basis. TPG executives William E. McGlashan, Jr. and Matthew T. Hobart, will now join the Schiff board.

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