Investment and M&A transaction comps
Supplement Brand Investment & M&A Transaction Comps
Supplements, vitamins, sports nutrition, wellness and functional nutrition brand transactions.
68
Reviewed transactions
43
With price data
3.6x
Median EV or valuation / revenue
17.4x
Median EV or valuation / EBITDA
| Year | Transactions | Priced | Median EV or valuation / revenue | Median EV or valuation / EBITDA |
|---|---|---|---|---|
| 2026 | 15 | 9 | 3.7x | - |
| 2024 | 3 | 3 | 5.5x | 15.0x |
| 2023 | 6 | 4 | 3.3x | 21.2x |
| 2022 | 6 | 2 | 1.8x | 22.0x |
| 2021 | 5 | 3 | 3.1x | 11.4x |
| 2020 | 8 | 6 | 5.0x | 15.7x |
| 2018 | 5 | 4 | 5.6x | 17.6x |
| 2017 | 6 | 4 | 3.6x | 19.0x |
Sortable transaction comps
Supplements transaction table
Rows with reported value
14 / 21
Acquisition EV, USD
USD 46B
Investment EV, USD
USD 250M
Median EV / revenue
3.6x
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21 shown of 21 matching transactions. Click any transaction row for more detail.
Values are 100% enterprise values. Multiples divide EV by full-company revenue or EBITDA. Reported prices are assumed to be EV; explicit partial-stake prices are grossed up as estimates. Amounts paid are tracked separately.
| Select for comparison | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Specnova Control | 2026-10-09 | HTBA | Undisclosed | Undisclosed | - | - | United States | Confirmed 2 sources | ||
| Medici Brands Capital Raise | 2026-09-02 | Greenoaks; Valor Equity Partners; Peter Rahal; Iconiq; Imaginary Ventures | USD 250M Investment Amount | 250 | - | - | United States | Confirmed 2 sources | ||
| Thorne Control | 2026-08-04 | Procter & Gamble | USD 3.8B Consideration | 3,800 | 7.6x | - | United States | Estimated 3 sources | ||
| BIO-CAT Enzymes & Microbials Control | 2026-07-31 | Lallemand Inc. | Undisclosed | Undisclosed | - | - | United States | Confirmed 1 source | ||
| Grüns Control (80%) | 2026-04-09 | Unilever | EUR 959M Enterprise Value | 1,120 | 3.7x | - | United States | Estimated 7 sources | ||
| Hilma Control | 2022-11-17 | Biocodex | Undisclosed | Undisclosed | - | - | United States | Confirmed 1 source | ||
| Clif Bar & Company Control (100%) | 2022-06-20 | Mondelēz International | USD 2.9B Enterprise Value | 2,900 | 3.6x | 24.2x | United States | Confirmed 11 sources | ||
| Orgain Control | 2022-02-02 | Nestlé Health Science | USD 2.0B Estimated Enterprise Value | 2,000 | 1.5x | 22.0x | United States | Confirmed 1 source | ||
| BODYARMOR Control (85%) | 2021-11-01 | The Coca-Cola Company | USD 6.6B Enterprise Value | 6,588 | - | - | United States | Confirmed 2 sources | ||
| Uqora Control | 2021-07-08 | Pharmavite | Undisclosed | Undisclosed | - | - | United States | Confirmed 1 source | ||
| Onnit Labs, Inc. Control (100%) | 2021-04-26 | Unilever | Undisclosed | Undisclosed | - | - | United States | Estimated 1 source | ||
| Microbiome Labs Control | 2021-01-06 | Novozymes | USD 125M Consideration | 125 | 3.1x | 6.0x | United States | Confirmed 1 source | ||
| Natrol LLC Control (100%) | 2020-10-26 | New Mountain Capital | USD 550M Consideration | 550 | 3.5x | - | United States | Confirmed 1 source | ||
| Care/of Control | 2020-08-31 | Bayer | USD 225M | 225 | - | - | United States | Confirmed 1 source | ||
| UAS Laboratories LLC Control | 2020-06-09 | Chr. Hansen Holding A/S | USD 530M Enterprise Value | 530 | 6.2x | - | United States | Confirmed 1 source | ||
| Orgain Control | 2019-11-11 | Butterfly Equity | Undisclosed Undisclosed | Undisclosed | 2.8x | 26.3x | United States | Confirmed 1 source | ||
| Quest Nutrition Control | 2019-08-22 | The Simply Good Foods Company | USD 1.0B Consideration | 1,000 | 2.9x | 17.4x | United States | Estimated 1 source | ||
| OLLY Nutrition Control | 2019-04-18 | Unilever | Undisclosed Undisclosed | Undisclosed | 5.0x | 20.0x | United States | Confirmed 1 source | ||
| Chicago Bar Company LLC (RXBAR) Control | 2017-10-06 | Kellogg Company | USD 600M Enterprise Value | 600 | 5.0x | 19.5x | United States | Confirmed 4 sources | ||
| Nutraceutix assets Control (100%) | 2016-06-06 | Probi AB | USD 105M Enterprise Value | 105 | 3.1x | 13.1x | United States | Confirmed 1 source | ||
| DuPont Nutrition & Biosciences Control | 2005-07-01 | International Flavors & Fragrances (IFF) | USD 26B Consideration | 26,200 | 4.3x | 18.9x | United States | Estimated 2 sources |
FundComb transaction comps are informational only. Prices are shown as estimated enterprise value where available, with USD used as the default sorting currency; revenue and EBITDA multiples are shown where available. Values may be estimated, rumored, incomplete or derived from public information and should not be relied upon as financial, investment or valuation advice.