Bain Capital has agreed to acquire UK-based Vitabiotics, including its India business Meyer Organics and operations across Africa.
The transaction follows Moneycontrol's July 16 report that the private equity firm had signed a definitive agreement to acquire the nutraceutical company in a deal valued at over $1 billion.
Bain Capital plans to leverage its Asia Private Equity platform to support Vitabiotics' expansion in India, the Middle East, Africa and China.
Bain Capital Buys UK's Top Vitamin Brand Vitabiotics in Billion-Dollar Deal
The private equity firm will acquire the UK nutraceutical giant, including its India business, as it looks to accelerate growth across key global markets
Summary
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Global private investment firm Bain Capital on Thursday announced that it has agreed to acquire Vitabiotics, the UK's largest vitamin company, along with its UK business and the wider VB Group, including Meyer Organics in India and operations across Africa, including VB Egypt.
The financial terms of the transaction were not disclosed. The announcement comes days after Moneycontrol reported earlier that Bain Capital had signed a definitive agreement to acquire the British nutraceutical company in a deal valued at more than $1 billion.
Asia PE team to spearhead investment
Given Vitabiotics' extensive international presence, Bain Capital said the investment will be led by its Asia Private Equity team, supported by the firm's global platform.
The private equity firm said it will leverage its local expertise in India alongside its healthcare and consumer sector experience to help Vitabiotics expand its global footprint.
According to the company, the investment will focus on strengthening the brand's international platform while accelerating growth in strategic markets such as India, the Middle East and North Africa (MENA), and China.
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No immediate operational changes
Bain Capital said the UK will continue to remain at the heart of Vitabiotics' operations, including brand development, research, innovation and category leadership.
The company said there will be no immediate changes to day-to-day operations following the acquisition. Instead, it plans to continue investing in digital capabilities, e-commerce, international distribution, supply chain resilience and new product development to support long-term growth.
The firm also announced that Professor Kartar Lalvani, founder of the Vitabiotics Group, will become Chairman Emeritus upon completion of the transaction, recognising his contributions to building the business over more than five decades.
A science-led nutraceutical pioneer
Founded in 1971 by scientist and entrepreneur Professor Kartar Lalvani, Vitabiotics has grown into one of the world's leading nutraceutical companies through its science-backed nutritional supplements.
The company pioneered several specialist supplement categories and today owns a portfolio of well-known brands catering to different health and life-stage needs, including Pregnacare, Perfectil, Wellman, Wellwoman and Osteocare.
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Bain sees strong growth potential
Commenting on the acquisition, Pawan Singh, Partner at Bain Capital, said Vitabiotics represents the kind of business the firm seeks to back.
"Vitabiotics is exactly the type of business we support: a trusted, science-led brand platform with category leadership, strong healthcare professional credibility and meaningful presence across the UK, India, the Middle East, Africa and China," Singh said.
He added that Bain Capital's India team has significant experience partnering with healthcare and consumer companies and looks forward to supporting the next phase of Vitabiotics' growth.
Advisers to the transaction
Houlihan Lokey served as corporate finance adviser to the selling shareholders, while Macfarlanes acted as legal adviser.
On the buyer's side, Rothschild & Co advised Bain Capital on corporate finance matters, while Kirkland & Ellis and Khaitan & Co acted as lead legal adviser and co-counsel, respectively.