Leading probiotic supplement manufacturer, Symprove, is being prepared for a potential sale that could bring in at least £250m. It has been reported that British-based private equity firm, bd-capital, has enlisted the help of investment bankers at Jefferies to facilitate an auction for the company. The process is expected to result in a transaction taking place no earlier than 2025.
Symprove has thrived in the current market, with a growing interest in gut health and its impact on overall physical and mental wellbeing. Under bd-capital’s ownership, the company has become Europe’s largest subscription business of its kind, with chief executive Will Bowler overseeing impressive annual sales growth of over 40%.
The company prides itself on producing scientifically robust probiotic products that offer effective treatment for various conditions, such as Irritable Bowel Syndrome (IBS) and the gastric symptoms of other diseases like Parkinson’s. Founded in 2010 by Barry Smith on his Surrey farm, Symprove’s water-based formula was initially intended for farm animals before it was discovered to have benefits for human gut health.
This year, Symprove is expected to generate approximately £30m in revenue, with profit margins of around 25%. In 2020, the company became the first investment for bd-capital, although the exact value of their stake was not disclosed at the time. Bd-capital was co-founded by Richard Baker, former chief executive of Boots, and Andy Dawson, a prominent figure in the UK private equity industry from his time at Advent International.
When approached for comment, bd-capital declined to provide any information.
