Bain Capital to acquire Vitabiotics in £900m deal

Bain Capital has agreed to acquire British vitamins and supplements company Vitabiotics, in a transaction that values the business at approximately £900m, according to a report by Bloomberg citing unnamed people familiar with the matter.

The deal will see Bain’s Asian private equity team lead the investment in the wider Vitabiotics Group, which includes India-based Meyer Organics and operations in Africa, including VB Egypt.

The parties have not disclosed financial terms.

Vitabiotics markets a portfolio of supplement brands including Wellman, Wellwoman, Pregnacare and Wellbaby, with its products widely sold through pharmacies and other retailers in the UK.

Chief executive Tej Lalvani, who previously appeared as an investor on the BBC television programme Dragons’ Den, said the company had built its business by targeting specific consumer categories and developing market-leading positions in areas including pregnancy and children’s nutrition.

Lalvani, whose father Kartar Lalvani, founded the company in 1971, said consumer attitudes towards health and wellness had shifted significantly since the Covid-19 pandemic, with greater emphasis on quality of life, nutrition and lifestyle.

The acquisition comes amid a wave of takeover activity involving UK companies, as international investors continue to target businesses with global operations.

Lalvani said he hoped the UK government would recognise the importance of attracting investment and retaining wealth in the country. He has relocated to the United Arab Emirates but continues to visit the UK regularly.

Bain Capital was advised by Rothschild & Co, while Houlihan Lokey advised Vitabiotics.