Vitamin Shoppe Industries

Franchise Group acquired Vitamin Shoppe in 2019 and in 2023 FRG subsequently agreed to a $30 per share deal to go private valued at about $2.6 billion and led by FRG CEO Brian Kahn. Following the deal, Franchise Group’s management team, including Kahn, continued to lead the company, which operates more than 3,000 stores. Investment and brokerage firm B. Riley had helped arrange the buyout but Kahn subsequently stepped down in January 2024 amid a criminal investigation into his alleged role in a securities fraud case related to the collapse of hedge fund Prophecy Asset Management.