Avista Healthcare Partners (Avista), a private equity firm focused exclusively on healthcare, announced an agreement to participate in PK Benelux, a key player in the market for vitamins, minerals, and supplements (VMS) in the Netherlands.
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Founded in 1985 and headquartered in Uden, the Netherlands, PK Benelux is owned by its founders Albert Peters and Angela Peters. The company markets VMS products under Lucovitaal, a fast-growing VMS brand over the last five years. Lucovitaal offers consumers with the highest-quality and highest-value product assortment across nearly all VMS categories. Lucovitaal is distributed across all major drugstores, supermarkets and e-commerce retailers in the Netherlands, cultivating strong customer loyalty through the brand’s reputation for quality and leadership in innovation. As part of the transaction, co-founder and CEO Albert Peters will make a significant reinvestment in PK Benelux and continue to support the growth of the company.
Thompson Dean, Chairman of Avista, said: “PK Benelux’s remarkable growth through successful innovation and Lucovitaal’s “powerful and affordable” brand proposition align well with rising market demand for high-value self-care and preventative health products. We are excited to deepen our partnership and begin a new chapter with PK Benelux, drawing on our deep experience in consumer healthcare to support PK Benelux in its next phase of growth.”
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Alex Yu, Partner at Avista, said: “PK Benelux offers a rare opportunity to invest in an established key VMS brand, with high-growth, a nimble and innovation-focused culture and loyal consumers. PK Benelux is an exceptional company, and we see significant opportunities to support PK Benelux’s organic growth in the Netherlands and across Western European markets.”
Albert Peters, CEO of PK Benelux, said: “The partnership marks a significant milestone for PK Benelux in becoming a global VMS brand. We have found true partners who share our vision and commitment to offering innovative, high-quality, and high-value VMS products that enhance our consumers’ lives. Their deep expertise and established partnership in the consumer healthcare sector will provide access to new opportunities and accelerate growth. We are grateful to our colleagues, partners, and customers who have supported Lucovitaal® over the last four decades, and we are excited for the next phase of our company’s growth.”
Avista’s expertise as one of the most active investors in consumer healthcare in North America and Western Europe and track record of growing businesses alongside founders were key to securing this partnership. Over the last decade, Avista has made seven platform investments and over 20+ add-on acquisitions in consumer healthcare.
The transaction is subject to approval by the relevant regulatory authorities. Financial terms of the transaction were not disclosed.
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Source- PR Newswire
