Probi AB (PROB) (“Probi”), a public Sweden-based probiotics research and development company, has signed an agreement to acquire probiotics company TNTGamble, Inc., doing business as Nutraceutix, for a preliminary cash purchase price of $105 million USD. Cascadia Capital serves as the exclusive financial advisor to Nutraceutix in this transaction.
Nutraceutix was established in 1983 in Redmond, Washington and is today among the top five probiotic producers in North America. Over recent years the business has shown double digit percentage sales growth, with net sales of approximately $34 million USD and EBITDA of approximately $8 million USD.
With this acquisition, Probi will increase its market share in North America – the largest and fastest growing probiotic dietary supplements market in the world – more than threefold, add important new technologies, manufacturing capabilities and customers, and create a strong platform for further acquisitions.
Tim Gamble, CEO, Nutraceutix stated: “I cannot imagine a better combination of two well-respected organizations. With highly complementary expertise, assets, product offerings, and a shared strategic focus on quality-conscious growth, I envision an outstanding future for the new entity. The transaction will result in the creation of a global leader in the probiotics and probiotic dietary supplement space, and will open up a wealth of new opportunities for the company, its employees and its customers.”
The Nutraceutix deal is Cascadia’s third recent transaction in the vitamins and supplements space alongside the sale of Super Supplements to Vitamin Shoppe and the sale of BioGenesis to Nutraceutical.
For more information about this transaction, please feel free to contact one of the following: