The sale of UK supplements brand Vitabiotics is relaunching, with information memoranda expected towards the end of this month, according to three sources familiar with the situation.

Vitabiotics, behind brands including Wellbaby and Wellwoman, generated EBITDA of around GBP 70m in FY24, according to the sources.

Houlihan Lokey is running the sale process with an ambition of reaching a deal that could value the group at around GBP 1bn, according to a report. At the EBITDA figure referenced above, that would peg Vitabiotics at an EV/EBITDA multiple of 14.3x.

In its 2023 financial year ending December, overall sales grew by 13% to GBP 196m, gross margin by 13% to GBP 100m and 9% operating profit to USD 55m, according to its latest annual report.

The upcoming sale revives a much-delayed process that stretched as far back as at least December 2023, when Houlihan Lokey was appointed, as reported.

Interested parties last year were, however, frustrated over the lack of clarity around the perimeter of what is for sale, whether a sale is for a minority or majority stake, as well as the role of the founding Lalvani family in any deal, as this news service wrote in October 2024.

While the potential structure of the upcoming deal remains unclear, potential buyers are anticipating further guidance from the sellside ahead of the launch, a fourth source said.

Private equity players are seen as strong candidates for the business, the sources said, with a fifth source noting the likes of Goldman Sachs’ private equity arm, Blackstone, PAI, Cinven, and BlackRock as potential suitors.

KKR, Advent and CVC were previously reported as potential candidates for the business.

Unilever and Nestle were also previously pointed to as logical suitors for the business. However, such consumer groups are likely to scrutinise the track record of Vitabiotics’ international presence and whether the supplements specialist offers synergies with their own global portfolio, one source said.

Exports for Vitabiotics accounted for around 60% of the GBP 196m revenue generated in 2023, with the remaining driven by UK sales. The export ratio is broadly similar to its 2022 levels, according to its annual report.

Vitabiotics and Houlihan Lokey declined to comment.