Nobel buys Vitaminstore from Aletra

This is the second investment made by Nobel via its recently raised €40m fund, following its acquisition of stainless steel pipes producer SKS in August 2020.

The fund targets medium-sized companies across the Netherlands that generate revenues in the €10-100m range and operate in a wide range of sectors. It typically invests in buyouts, buy-ins, carve-outs and growth capital transactions, acquiring primarily majority or significant minority stakes.

With Nobel's support, the company intends to boost its digital transformation, strengthen its online channel and further expand its customer base across the Netherlands.

The sale ends a 14-year holding period for Aletra, which acquired a stake in Vitaminstore from its founders.

Company
Established in 1995 and based in Amsterdam, Vitaminstore sells nutritional supplements, vitamins and natural cosmetics.

The company sells both products marketed under its own label, Vitaminstore, and other brands, including Solgar, Orthica, Dr Hauschka and Weleda.

The business operates 32 stores across the Netherlands and an online platform, selling more than 40,000 products.

Employing 90 staff, Vitaminstore generates annual revenue of around €20m.

People
Nobel Capital – Daniël van der Pluijm (founding partner).
Vitaminstore – Alain Vermeulen, Koert Otten (founders)

Advisers
Company – PwC (corporate finance); Advocaten (legal).
Equity – DeBreij (legal); KPMG (financial due diligence).

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