The Vitamin Shoppe was just sold...again (technically)! What started as highly probable rumors became reality. In a deal that’s expected to close in the second half of 2023, The Vitamin Shoppe’s owner, Franchise Group, would be taken private through a $2.6 billion management buyout. The group buying the portfolio is led by current Franchise Group CEO Brian Kahn but includes a consortium of other investment banks and private equity firms. After the transaction is complete, the current Franchise Group management team, including the CEO, will continue to lead the company and run its current portfolio of retail brands. I'll explain what that MBO could mean strategically for current Vitamin Shoppe vendors, employees, and even little ole me. Additionally, I will update you on the recent business performance for The Vitamin Shoppe. I'll utilize the 2023 Q1 Franchise Group (NASDAQ: FRG) earnings report and conference call to provide quarterly segment-level financial details for The Vitamin Shoppe. I will also dig deeper into several areas of The Vitamin Shoppe, such as franchising activity and merchandising category trends (including the retailer's increased sports nutrition and private label brand focus).