Mumbai: Global private equity firm Bain Capital will acquire UK-based nutraceutical company Vitabiotics for an undisclosed sum.
The deal includes the acquisition of Meyer Organics in India, and its operations in Africa and Egypt, the companies said in a statement on Friday. The transaction signals the next phase of planned rapid international growth and expansion for Meyer.
Mint first reported in March that was among the private equity firms in the final stages of acquiring the company at a valuation of $900 million to $1 billion.
The investment will be led by Bain Capital’s Asia Private Equity team and supported by the firm’s global platform. Bain Capital will bring local market knowledge in India, together with sector expertise, portfolio resources and global capabilities, to support Vitabiotics as it continues to scale its brands, strengthen its international platform and invest in long-term growth within key markets such as MENA (Middle East and North Africa) and China.
“We see a compelling opportunity to help Vitabiotics build on its UK leadership and strengthen its global platform. Across Capital, we will bring sector expertise, portfolio resources and local market knowledge to support investment in innovation, e-commerce, international distribution and operational capability,” said Rishi Mandawat, partner at Bain Capital.
“Our India team has deep experience partnering with healthcare and consumer businesses, and we look forward to supporting Vitabiotics’ next phase of growth,” Bain’s partner Pawan Singh added.
The UK will remain central to Vitabiotics’ brand, innovation, and category leadership, and there will be no immediate changes to day-to-day operations, the statement said.
The company will focus on delivering for customers, partners and consumers, while also investing in areas including digital capabilities, e-commerce, international distribution, supply chain resilience and new product development.
Vitabiotics was founded in 1971 by scientist and entrepreneur Kartar Lalvani, who pioneered the nutraceutical field and innovative science-based formulas, leading to whole new categories of supplements and sector-leading brands. Its portfolio of brands includes Pregnacare, Perfectil, Wellman, Wellwoman, Osteocare, and the Ultra range.
Over the last decade, under group CEO Tej Lalvani, the business has seen an accelerated growth through product launches and partnerships, the company said.
“With Bain Capital’s global expertise and investment behind us, we have a unique opportunity to expand internationally, accelerate our innovation, and take our trusted brands to millions more consumers,” Lalvani said.
The Vitabiotics Group is present across several markets, including India, China, Egypt and the wider MENA region.