Sports-nutrition and supplements business Laboratoire Nutergia has sold a majority stake to private-equity firm 3i Group.
3i has acquired a 51% stake in the French group. The terms of the deal were not disclosed.
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Approached by Just Food, 3i declined to comment on how much it had paid for the shareholding but said it usually invests between €100m to €150m ($116m-$174m). “You can assume our investment is in that range,” 3i said.
As part of the transaction, Nutergia’s founding Lagarde family will keep a “significant minority holding” and remain active in the company.
Founded in 1989 by Claude Lagarde, Nutergia develops and manufactures food supplements.
The Capdenac-headquartered company sells primarily through pharmacies. It also markets a range of sports-nutrition products under the Ergysport brand.
3i partner Pierre-Axel Botuha said: “Nutergia is a top-tier nutrition business with a strong brand, deep healthcare heritage and a long track record of growth. It fits perfectly with our strategy of investing in differentiated companies which help consumers achieve a healthier lifestyle.
The private-equity firm said to Nutergia has delivered double-digit organic annual growth for “over a decade”. The business operates a production facility in France and has a presence in Spain and Belgium.
Nutergia founder Claude Lagarde said: “Nutergia is built around scientific rigour, product quality and trust from consumers and healthcare professionals.
“We are pleased to welcome 3i as a partner who shares our ambition and brings significant experience of supporting premium healthcare brands in their growth journey, especially in their international expansion.”
3i said the investment is intended to “accelerate Nutergia’s growth” through deeper penetration of existing markets, product innovation and faster development of digital channels.
The private-equity group told Just Food “international development is a priority” for its new asset, particularly in Spain, Portugal, Belgium and Asia. Nutergia already exports a quarter of its products by volume, to Europe and Asia, 3i said.
