Vitabiotics, the vitamin giant run by former Dragon’s Den star Tej Lalvani, is to be snapped up by US investment giant Bain Capital.
The deal comes after the Lalvani family launched an auction process earlier this year.
The companies did not disclose the value of the deal for the UK’s largest vitamin maker, which makes brands including Perfectil and Wellman.
However, the Times reported that the move is worth around £900 million.
Bain Capital said it has sealed an agreement to take control of the Vitabiotics business, including UK operation and the wider VB group as well as operations in India and Africa.
The group, which is also the majority owner of clothing firm Canada Goose, said the deal will signal the next phase of “planned rapid international growth and expansion”.
The new owner stressed that there will be “no immediate changes” to day-to-day operations following the takeover.
Vitabiotics was founder by Mr Lalvani’s father, Kartar, a scientist and entrepreneur, in 1971.
The company, which counts Tess Daly and Davina McCall among its celebrity ambassadors, has been led by Tej Lalvani since 2015.
Mr Lalvani, who is expected to net a significant windfall from the sale, is well known for starring in four seasons of Dragon’s Den between 2017 and 2021.
He said: “This direction is not about changing who we are; it is about accelerating what we can become.
“With Bain Capital’s global expertise and investment behind us, we have a unique opportunity to expand internationally, accelerate our innovation, and take our trusted brands to millions more consumers, while staying true to the science, quality and values that have defined Vitabiotics for more than 55 years.”
Pawan Singh, a partner at Bain Capital, said: “Vitabiotics is exactly the type of business we support: a trusted, science-led brand platform with category leadership, strong healthcare professional credibility and meaningful presence across the UK, India, the Middle East, Africa and China.
“Our India team has deep experience partnering with healthcare and consumer businesses, and we look forward to supporting Vitabiotics’ next phase of growth.”
