Gridiron Capital-Backed Foundation Wellness Acquires Doctor Hoy’s Natural Pain Relief
NEW CANAAN, CT, February 8, 2022 – Gridiron Capital, LLC (“Gridiron Capital”), an investment firm focused on partnering with founders, entrepreneurs, and management teams is pleased to announce that its portfolio company, Foundation Wellness, manufacturer of aftermarket insoles, supplying footwear and foot care products to multiple companies and leading brands, has acquired Doctor Hoy’s Natural Pain Relief (“Doctor Hoy’s” or the “Company”).
Doctor Hoy’s Natural Pain Relief manufactures natural, pain-relieving topical gels manufactured in the USA. Relief for aches and pains associated with sore muscles and backaches caused by physical exertion, athletic competition, or everyday stress and strains.
Sean Williams, CEO of Foundation Wellness stated, “We are excited about acquiring Doctor Hoy’s from Joachim and Laura. It is admirable what their small team has done to build the business by delivering a great product with excellent customer service. We believe the brand is a great fit in our portfolio along with PowerStep and Foot Petals and will strengthen our ability to enable consumers to lead active and pain-free lives.”
Laura Gloschat, Chief Executive Officer of Doctor Hoy’s stated, “Doctor Hoy’s Natural Pain Relief was the product that changed my life…so much so that my husband, Joachim and I bought the Company in 2006. We are ready to watch Doctor Hoy’s grow and reach many people that are looking for safe ways to manage their pain. It is with great happiness that we have found the right company in Foundation Wellness to take over what we started – a company that is passionate about the health and wellness of their consumers.”
“The partnership with Doctor Hoy’s Natural Pain Relief brand, is another successful milestone in Foundation Wellness’ strategic growth plan,” said Tom Burger, Co-Founder and Managing Partner at Gridiron Capital. “The team is tremendously excited to enter the natural pain-relief category and bring the same level of passion and innovation that Doctor Hoy’s is known for to our clinicians and customers.”
Joseph Saldutti, Managing Director of Gridiron Capital stated, “The acquisition of Dr. Hoy’s extends the Foundation Wellness brands into the topicals space. This is an exciting acquisition for the Foundation Wellness team which allows them to grow into complementary product categories to fulfill our mission of enabling our customers to enjoy active lives.”
About Foundation Wellness
Headquartered in Wadsworth, Ohio, for over 85 years, Foundation Wellness is a house of wellness brands including PowerStep, Foot Petals, and FLAT SOCKS. Our leading brand, PowerStep, is the #1 Podiatrist recommended orthotic insole in the marketplace, offering foot support, pain relief, and prevention. We also sell branded products direct to consumers, through sports and specialty retailers, and offer private label products to leading OEMs and distributors in the foot care, orthopedic soft goods, safety & military markets. Learn more about Foundation Wellness and its offerings at https://www.foundationwellness.com.
About Doctor Hoy’s
Doctor Hoy’s was founded in 2001 with a focus on creating a topical analgesic containing natural ingredients providing pain-relief from muscle aches, arthritis, sprains, and strains – that focus remains the same today. Doctor Hoy’s has two key products – Pain Relief Gel and Arnica Boost which are both manufactured in the USA. The formulas used are water-based and contain no parabens or toxins. Learn more about Doctor Hoy’s and its offerings at https://www.drhoys.com.
About Gridiron Capital, LLC
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. We 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 firm’s website: www.gridironcapital.com.
For Additional Information:
For Gridiron Capital, LLC:
Tom Burger, Co-Founder and Managing Partner, Gridiron Capital, LLC
For Foundation Wellness
Sean Williams, CEO, Foundation Wellness