Gridiron Capital Announces the Acquisition of CURREX by Foundation Wellness
CURREX Partnership Adds Immediate Scale While Providing Complementary Channel Mix and Product Portfolio to Accelerate Growth Internationally
NEW CANAAN, CT, May 11, 2023 – Gridiron Capital, LLC (“Gridiron Capital”), an investment firm focused on partnering with founders, entrepreneurs, and management teams, is pleased to announce that portfolio company, Foundation Wellness, a leading US manufacturer of insoles and orthotics, has recently completed the acquisition of CURREX, a leading brand of insoles designed for athletes and active individuals found online and in retail running stores across the US and Germany. With the acquisition of CURREX, Foundation Wellness expands its product offerings and strengthens its position as a top provider of wellness solutions for individuals looking to live active and pain-free lives.
CURREX distributes high-performance insoles for athletes and active individuals, using innovative technology to tailor insoles to the user’s specific needs. Founded in Hamburg, Germany in 2000, their products are trusted by professional athletes and coaches worldwide to improve performance, reduce injury risk, and enhance foot comfort.
Tom Burger, Co-Founder and Managing Partner, said “Partnering with a strong, growing brand such as CURREX will help position Foundation Wellness, along with its leading PowerStep® brand, as a clear market leader in both the clinical and performance insole categories. CURREX’s complementary channel (Run Specialty) and Foundation’s deep understanding of CURREX’s market and customers will allow the partnership to expand its target consumer base and provide entrance into additional European markets.”
Joe Saldutti, Managing Director, added “We are particularly excited about the digital and DTC capabilities Foundation Wellness can bring to CURREX to further accelerate growth and increase market share. Additionally, CURREX brings a strong retail sales organization and consumer-facing technologies that enhance the customer experience and help ensure the optimal fit for comfort and performance.”
About Gridiron Capital
Gridiron Capital is an investment firm focused on partnering with founders, entrepreneurs, and management teams and creating value by building middle-market companies into industry-leaders in branded consumer, B2B and B2C services, and niche industrial segments in the United States and Canada. They help transform growing companies by winning together through hard work, partnerships grounded in shared values, and a unique culture that comes from hands-on experience building and running businesses. As a team led by former operators and entrepreneurs, we know what it takes to run successful businesses on a day-to-day basis. Additional information is available on the company’s website: www.gridironcapital.com.
About Foundation Wellness
Foundation Wellness is a leading health and wellness products company with brands including PowerStep®, FootPetals®, FLATSOCKS®, and Dr. Hoy’s®. The Company’s specialty design and manufacturing capabilities enable it to provide both branded and private-label solutions including orthotics and insoles, foot care products, analgesic pain relievers, orthopedic braces, sports supports, and safety/ergonomic products. The Company works with podiatrists, chiropractors, physical therapists, and other clinicians to bring orthopedic wellness products to their clients. The Company’s brands, including Powerstep®, a leading podiatrist-recommended orthotic solution, are sold directly to consumers and through sports and specialty retailers. Foundation Wellness also offers private-label products to leading OEMs and distributors in the medical, footcare, orthopedic soft goods, safety & military markets. Additional information is available on the company’s website: www.foundationwellness.com.
Gridiron Capital, LLC
Thomas A. Burger, Jr.
Co-Founder and Managing Partner, Gridiron Capital
Vice President of Branded Marketing, Foundation Wellness