News Releases

Lindquist & Vennum Advises Airborne in Sale to Schiff Ingredients


Lindquist & Vennum client Airborne, which makes a line of well-known immune support supplements available in retail stores nationwide, has been sold to Schiff Ingredients for $150 million. Utah-based Schiff purchased all of Airborne's stock from GF Capital and funded the all-cash transaction through a new debt facility and cash on its balance sheet.

The successful sale follows an impressive period of growth for the company. In 2009, Lindquist & Vennum assisted Airborne’s management, led by CEO Marti Morfitt, in GF Capital’s original investment and began working as company counsel.

“I am very proud of the work the Airborne team has done over the past three years to re-establish the growth of the brand and to develop a strong pipeline of new products and marketing programs designed to support the future growth of the business,” Morfitt said. “We are happy to see our business move to the team at Schiff—they bring great talent and resources to the business and share our passion for building a leading immune support brand.”

Lindquist attorneys Chuck Moorse and Veronica Basel led the transaction, with assistance from Mark SalsburyMark McNeilGarrett WeberTony LusvardiJosh NatzelEd Wegerson, and Nancy Flury Anton. Schiff Ingredients was represented by Latham & Watkins in the deal.

Airborne’s sale is another example of Lindquist & Vennum's increasingly active role leading deals opposite Am Law 100 firms. In recent months, the firm has closed transactions for clients sitting across the table from Kirkland & Ellis; Dickstein Shapiro; Winston & Strawn; Pepper Hamilton; Cooley; Pillsbury; and Morgan, Lewis & Bockius, among others.

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