MLM Company Neways Sold To Private Equity Group

MLM company Neways Inc., which has been the subject of buyout speculation for several months, was sold to a San Francisco private equity firm in a deal concluded late Wednesday.

Terms of the deal weren't disclosed.

Buyer Golden Gate Capital, which specializes in leveraged buyouts and manages about $3 billion in capital, is no stranger to the nutraceuticals industry. The company, along with another private equity firm Whitney & Co. LLC, acquired Herbalife International, a Los Angeles-based weight loss and dietary supplements maker, for about $685 million two years after the death of its multimillionaire founder, Mark Reynolds Hughes, in 2000.