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 / 25
Acquisition EV, USD
USD 33B
Investment EV, USD
-
Median EV / revenue
4.0x
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25 shown of 68 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 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Zywie Ventures Private Limited (OZiva) Control (51%) | 2023-01-10 | Unilever PLC | Undisclosed | Undisclosed | - | - | - | Confirmed 6 sources | ||
| Chr. Hansen Holding Control | 2022-12-12 | Novozymes | USD 12B | 12,300 | 9.3x | 26.2x | Denmark | Confirmed 1 source | ||
| Hilma Control | 2022-11-17 | Biocodex | Undisclosed | Undisclosed | - | - | United States | Confirmed 1 source | ||
| Bucklebury Control | 2022-09-01 | Haleon | Undisclosed Undisclosed | Undisclosed | - | - | United Kingdom | Confirmed 1 source | ||
| The Better Health Company Control | 2022-06-29 | Nestle | Undisclosed Undisclosed | Undisclosed | - | - | New Zealand | Estimated 2 sources | ||
| 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 | ||
| Youtheory Control (95%) | 2022-06-01 | Jamieson Wellness Inc. | Undisclosed | Undisclosed | 1.8x | 10.0x | North America | Confirmed 1 source | ||
| 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 | ||
| 2021-04-30 | Nestlé | USD 5.8B Consideration | 5,750 | 3.1x | 16.8x | - | Confirmed 2 sources | |||
| Onnit Labs, Inc. Control (100%) | 2021-04-26 | Unilever | Undisclosed | Undisclosed | - | - | United States | Estimated 1 source | ||
| Grenade Control | 2021-03-22 | Mondelēz International | GBP 200M Consideration | 279 | 4.0x | 40.0x | United Kingdom | Estimated 1 source | ||
| Microbiome Labs Control | 2021-01-06 | Novozymes | USD 125M Consideration | 125 | 3.1x | 6.0x | United States | Confirmed 1 source | ||
| Biogix, Inc. Control | 2020-12-29 | Alliance Pharma plc | USD 110M Enterprise Value | 110 | 5.0x | 15.7x | - | Estimated 3 sources | ||
| Smarty Pants Control (100%) | 2020-11-25 | Unilever | Undisclosed | Undisclosed | 4.0x | - | - | Confirmed 2 sources | ||
| Natrol LLC Control (100%) | 2020-10-26 | New Mountain Capital | USD 550M Consideration | 550 | 3.5x | - | United States | Confirmed 1 source | ||
| Jennewein Biotechnologie GmbH Control (100%) | 2020-09-22 | Chr. Hansen Holding A/S | EUR 310M Enterprise Value | 367 | 6.2x | - | Germany & Global | Confirmed 1 source | ||
| Care/of Control | 2020-08-31 | Bayer | USD 225M | 225 | - | - | United States | Confirmed 1 source | ||
| PrecisionBiotics Group Limited Control (100%) | 2020-06-25 | Novozymes | DKK 600M Enterprise Value | 90 | 6.0x | - | Cork, Ireland | Estimated 1 source | ||
| Vital Proteins Control | 2020-06-10 | Nestlé Health Science | Undisclosed | Undisclosed | 4.3x | - | - | 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 |
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.