Havea Acquisition, Valuation, Funding & Investors

Havea was acquired by BC Partners for $1.2B in June 2022, a 5.1x multiple on $229M of revenue.

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Havea acquisition price

$1.2B

Acquired by BC Partners · Jun 2022

Havea revenue at acquisition

$229M

Last twelve months · Jun 2022

Havea revenue multiple at acquisition

5.1x

EV/Revenue · Jun 2022

Cumulative funding Havea raised

$191M

across 1 funding round

Havea Overview

About Havea

Havea is a Nantes-area group manufacturing natural health supplements and cosmetics, owning Ponroy Santé founded in 1975 in Boufféré, France. The portfolio includes brands like Biolane infant nutrition, Vitarmonyl vitamins, and Yves Ponroy slimming aids, sold via pharmacies, supermarkets, and e-commerce in 20 countries. Havea produces probiotics, menopause relief, and organic skincare from three French plants serving 10 million consumers yearly.


Founded

1975

HQ

FranceNantes

Website

havea.com

Status

Acquired

Customer focus

B2C

Revenue model

Product sales

Revenue

$229M (Jun 2022)

Valuation

$1.2B (acquired Jun 2022)

Havea Acquisition

Havea was acquired by BC Partners for $1.2B on 23 June 2022.

The acquisition price implies a 5.1x revenue multiple on $229M of revenue.

Before the acquisition Havea had raised $191M across 1 funding round.

Havea is a France-based leading European natural healthcare group, formerly Ponroy Santé, operating five strategic brands: Vitavea (everyday food supplements), Aragan (premium food supplements), Biolane (baby care), Dermovitamina (skin care), and Densmore (ophthalmology and gynaecology). The company manufactures most products in Boufféré, France, employs over 800 people, and has delivered above-market organic growth through end-to-end value chain coverage, omnichannel distribution, and sell-in/sell-out strategies. BC Partners entered exclusive negotiations on June 23, 2022, to acquire a majority stake from 3i Group and Cathay Capital, with the deal completing in October 2022 alongside management and PSP Investments. Since 3i's 2017 investment, Havea doubled in size with double-digit organic growth, five acquisitions reinforcing presence in Italy and Belgium, brand portfolio simplification, and multichannel strategies including D2C subscriptions. The sale provided 3i a circa 50% uplift to its March 2022 valuation. The partnership aims to support Havea's organic growth, accelerate M&A, and invest in digitalisation, leveraging structural tailwinds in natural healthcare, preventative care, and patient value.

Havea acquisition details
AcquirerDateTypePriceEV/Revenue
  • BC Partners
23 Jun 2022PE buyout$1.2B5.1x

Havea Funding History

Havea has raised a total of $191M across 1 funding round.

Havea funding rounds

Havea funding rounds
DateStageInvestorsRaisedDeal Summary
Nov 2016Undisclosed stage3i Group (lead); Cathay Capital Private Equity$191MHavea Group is a leading European natural healthcare company focused on consumer and patient-centric products, including food supplements, with strong presence in markets like Italy and Belgium. 3i Group and Cathay Capital acquired Havea (previously associated with Ponroy Santé) around 2016, supporting its transformation through organic growth, five acquisitions in five years, brand simplification, and multichannel strategies like D2C subscriptions. Under 3i (noted as investing in 2017 in some reports), Havea doubled in size to €212 million in sales by 2021, achieving double-digit organic growth. The investment backed the megatrend toward natural and sustainable healthcare, leveraging innovation and consumer insights. In 2022, 3i sold Havea to BC Partners at approximately 50% uplift to its March 2022 valuation, with proceeds reflecting strong performance.

Who has invested in Havea?

2 investors have backed Havea across its funding rounds, including 3i Group and Cathay Capital Private Equity.

Lead investors include 3i Group.


Havea Investors

Investors in Havea by funding rounds participated
InvestorHQRoundsRoleFirst check

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Acquisitions by Havea

Havea has acquired 9 companies to date.

Last acquisition by Havea was on February 2nd 2023. Havea acquired Biocyte for undisclosed valuation.


Latest Acquisitions by Havea

Biocyte
Bears with Benefits
ixX pharma
Laudavie
Description
Biocyte is a Monaco-based laboratory specializing in premium nutritional supplements for beauty, anti-aging, slimming, and wellness. Founded in 2008, it formulates high-dosage products with exclusive natural ingredients targeting skin health and longevity mechanisms, available in pharmacies across France and Europe.
Bears with Benefits is a Berlin-based producer of vegan beauty supplements in gummy form. Its product line includes biotin hair gummies, collagen skin boosters, and sleep aids with ashwagandha and melatonin. Sold online across Europe, the supplements use pectin base and natural flavors. Founded in 2020, the company sources ingredients from Germany and exports to the UK and Netherlands.
ixX pharma is a Belgian contract manufacturer of private-label nutritional supplements, producing vitamin, mineral, and herbal capsules in GMP-certified facilities near Brussels. Product lines include multivitamins, omega-3s, and probiotics for pharmacies and e-commerce brands across Europe, with annual capacity exceeding 100 million units.
Laudavie is a French consumer healthcare company whose brands include Calmosine, a specialist in food supplements for infants and children. Its products are sold through pharmacies and address digestive comfort and sleep in babies and young children.
HQ CountryFranceGermanyBelgiumFrance
HQ City
Nice
Grünwald
Nieuwkerken-Waas
Paris
Deal Date2 Feb 20239 Nov 20221 Sep 20217 Jan 2021
Valuationundisclosedundisclosedundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Havea Competitors

Havea competitors include listed companies like Jamieson Wellness, Procter & Gamble Health, Mega Lifesciences and Zydus Wellness, and private ones like L&P Cosmetic and Zespri.

Public and private companies comparable to Havea
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Jamieson WellnessCanadaCanadaPublicly listed$589M$95M$1.4B2.6x
Procter & Gamble HealthIndiaIndiaPublicly listed$144M$48M$941M6.0x
Mega LifesciencesThailandThailandPublicly listed$425M$82M$936M1.9x
Zydus WellnessIndiaIndiaPublicly listed$411M$49M$1.8B4.5x
L&P CosmeticSouth KoreaSeoulPrivate--$1.1B-
ZespriChinaShenzhenPrivate$268M$59M$1B3.8x

Havea Public Comps

Havea is no longer listed, but its public comps include BioGaia, Edgewell, Chicmax Cosmetic, Cosmecca Korea, Jamieson Wellness, Intercos, Procter & Gamble Health, Mega Lifesciences, T Hasegawa and Sarantis Group.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
BioGaia$157M$44M6.8x6.2x23.9x20.4x
Edgewell$2.2B$186M1.0x1.1x11.5x8.5x
Chicmax Cosmetic$1.4B$235M0.8x0.8x4.5x7.3x
Cosmecca Korea$467M$71M2.5x2.1x16.5x12.9x
Jamieson Wellness$589M$95M2.9x2.6x17.8x13.5x
Intercos$1.2B$159M1.2x1.2x9.4x8.0x
Procter & Gamble Health$144M$48M6.4x6.0x19.1x18.3x
Mega Lifesciences$425M$82M2.0x1.9x10.2x8.4x

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Common questions about Havea

When was Havea founded?Havea was founded in 1975.
Where is Havea headquartered?Havea is headquartered in Nantes, France.
Is Havea publicly listed?No, Havea was acquired by BC Partners in June 2022.
Who acquired Havea?Havea was acquired by BC Partners in June 2022.
How much was Havea acquired for?Havea was acquired for $1.2B in June 2022, a 5.1x revenue multiple.
How much funding has Havea raised?Havea has raised $191M across 1 funding round.
What was Havea's last funding round?Havea's last funding round was a $191M undisclosed-stage round in November 2016, led by 3i Group.
Who are Havea's investors?Havea's investors include 3i Group and Cathay Capital Private Equity.
Which companies are comparable to Havea?Companies comparable to Havea include Jamieson Wellness, Procter & Gamble Health, Mega Lifesciences, Zydus Wellness, L&P Cosmetic and Zespri.
How many companies has Havea acquired?Havea has acquired 9 companies, including Biocyte, Bears with Benefits, ixX pharma, Laudavie and Pasquali Healthcare.

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