Insights

August 31, 2026

Yellow Emperor with Western Botanicals

In Consulting, External Sale

Contributions from: Evan Fisher, Patrick Corcorran

Coldstream Capital Partners Advises Yellow Emperor on its partnership with Western Botanicals, backed by The Riverside Company

Coldstream Capital Partners is pleased to announce that Western Botanicals, a contract development and manufacturing organization (CDMO) in the vitamins, minerals, and supplements (VMS) industry backed by The Riverside Company has made a strategic investment in Yellow Emperor, a liquid contract manufacturer based in Oregon.

In business since 1981, Yellow Emperor is a GMP-certified, Certified Organic Processor and Certified B Corporation specializing in liquid vitamins, herbals, nutraceuticals, and personal and pet care formulas, serving wellness brands across capsule, powder, and liquid categories. The company’s capabilities span custom formulation, private and white label production, and full-service packaging and labeling.

The partnership adds dedicated liquid manufacturing capacity and formulation expertise to Western’s existing capsule, powder, and liquid platform, broadening the combined company’s ability to serve customers across additional delivery formats; a stated priority in The Riverside Company’s investment thesis for the Western Botanicals platform.

“Yellow Emperor’s team has spent decades building a reputation for precision and reliability in liquid manufacturing. We’re proud to have guided them through a process that resulted in a partner who shares that same commitment to quality and their employees.” said Patrick Corcorran, Managing Director at Coldstream Capital Partners

“Patrick and his team brought the same precision and care to this process that we’ve always brought to our business. We are excited to partner with Western Botanicals and could not have asked for a better partner to guide this transaction.” said Joe Stipek, CEO of Yellow Emperor

ABOUT THE SELLER:

Since 1981, Yellow Emperor is a certified liquid manufacturer producing vitamins, herbals, nutraceuticals, skincare, and pet product formulas for wellness brands. The company is GMP Certified, a Certified Organic Processor, and a Certified Benefit Company. For more information, visit www.yellowemperor.com.

ABOUT THE BUYER:

Western Botanicals is a contract development and manufacturing organization of vitamins, minerals, and dietary supplements, serving more than 75 health and wellness brands from its 140,000-square-foot facility in Spanish Fork, Utah. The company is led by Founder and CEO Don Shaver. For more information, visit www.westernbotanicals.com.

Founded in 1988 and headquartered in New York City, The Riverside Company invests in lower middle-market companies with EBITDA of up to $35 million and valuations of up to $400 million, focusing on business services, consumer brands, education and training, franchisors, healthcare, software and IT, and specialty manufacturing. For more information, visit www.riversidecompany.com.

ABOUT COLDSTREAM CAPITAL PARTNERS:

Coldstream Capital Partners is a strategic advisory and investment banking firm headquartered in Seattle, WA. Over the last 30 years we have helped thousands of shareholders identify, build, and implement their ideal transition.

Coldstream Securities, Inc., a registered broker-dealer, and member of FINRA and SIPC, is an affiliate of Coldstream Capital Partners. All securities transactions are conducted through Coldstream Securities, Inc.

CONTACT:

Contact us at info@coldstreamcapitalpartners.com to learn more about how Coldstream Capital Partners can help you and your business.

RECENT TRANSACTIONS

This sale represents another completed transaction for Coldstream Capital Partner’s Investment Banking & Strategic Advisory team. Recent transactions include:

          

See all transactions here.

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