British private investment firm Bridgepoint Group is reportedly eyeing up the sale of its Swedish functional drinks and energy-bar business Vitamin Well.
The buyout group is in talks with investment bankers at Jefferies to consider a change in ownership of the drinks brand, according to The Financial Times.
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Vitamin Well reportedly generates around €150m ($160m) in EBITDA and could be valued at more than €2bn. In the 2023 financial year, the business had annual revenues of circa €500m, according to a person close to the company.
Established in Stockholm in 2006, Vitamin Well develops, markets and sells functional beverages for health-conscious and active consumers. The company’s portfolio consists of three core brands: flavoured water Vitamin Well, energy drink Nocco and protein bar maker Barebells.
According to Bridgepoint, the brands are sold in around 40 countries “with a focus on expansion outside of its home markets in the Nordic region”.
The investment was initially made by a fund managed by Bridgepoint Development Capital in 2016 and is currently co-owed with a fund managed by Bridgepoint Europe following additional investment in 2021.
Bridgepoint’s deliberations are at an early stage and no final decision has been reached, with no certainty of a deal, The Financial Times wrote.
Just Drinks has contacted Bridgepoint and Vitamin Well for comment.
Bridgepoint this month also sold elite motorcycle race series MotoGP to Formula One owner Liberty Media for €4.2bn.
The investment group’s performance-related earnings fell to £55.3m in 2023, down from £64.9m in 2022 and £71m in 2021. Bridgepoint’s annual report attributed the decline to “reduced levels of exits in Bridgepoint funds”.
