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Alantra has advised the shareholders of Bee Health on the sale of the company to global nutrition and wellness leader INW


SECTORConsumer Goods & Retail

ServiceM&A

Mar 2021
Sell-side advisory

Alantra, the independent global mid-market investment bank, has advised the UK’s leading nutritional supplement manufacturer, Bee Health, on its sale to US-based INW | Innovations in Nutrition + Wellness (INW), a leader in custom R&D, manufacturing and marketing support solutions for global brands that serve the fast-growing nutrition and wellness industry.

Bee Health was founded by Steve and Bea Ryan in 1992 as a specialised producer of bee-derived nutritional ingredients. They were joined two years later by entrepreneur Jan Fletcher OBE. In 2018, Steve stepped back from the day-to-day running of the business and his son Lewis took over as Managing Director. The company has grown rapidly over the last decade and now supplies the UK’s broadest range of vitamin, mineral and supplement products from its state-of-the-art facility in Bridlington, Yorkshire.

Bee Health’s workforce of over 350 people manufacture more than 3 billion units a year across a multitude of formats including tablets, capsules, softgels, powders, creams and liquids. Known for its unique ‘design-to-delivery’ model, with a seamless service from innovation and R&D all the way through to packing and distribution, the company is the trusted partner to leading wellness brands in the direct-to-consumer channel.

With manufacturing operations across four US States, INW has experienced rapid growth and has a proven track record of successful acquisitions in multiple health and wellness categories. INW and Bee Health’s highly complementary product capabilities and geographic reach will significantly expand the range of services available to the combined business’s customers.

In a simultaneous transaction, INW was acquired from Rosewood Private Investments by a group of investors led by private investment firm, Cornell Capital LLC.

The Alantra deal team comprised Charles Lanceley, Ollie Hickley, James Segal and Tika Endeladze.

Charles Lanceley, Director and Head of UK Food & Beverage at Alantra, said: “Bee Health is at the forefront of innovation in the UK nutritional supplements sector. It has experienced rapid growth thanks to management’s laser sharp focus on offering direct-to-consumer brands with the broadest range of products and industry leading service levels. We look forward to seeing Lewis Ryan and the management team to build on their incredibly strong momentum as they partner with INW and Cornell Capital.”

Steve Ryan, Founder of Bee Health, commented: “After 27 years of innovation and development we are delighted to find the right partners with a shared vision that will further assist our growth. I’m confident that our partnership with INW gives Bee Health enormous potential.”

Jan Fletcher OBE, Chairman of Bee Health, said: “INW’s and Cornell’s interest in Bee Health is a testament to both the strength of the company we have built and the significant value creation potential ahead. Bee Health has seen virtually uninterrupted growth over the last decade as we have expanded our highly diversified customer base and grown our market share to become the UK’s leading industry player.”

This is the latest in a series of leading consumer deals advised by Alantra including:

  • the sale of ARYZTA’s North American bakery business to Lindsay Goldberg;
  • the sale of a majority stake in global beauty business Medik8 to Inflexion;
  • the growth capital investment in direct-to-consumer supplement brand Absolute Collagen by Livingbridge;
  • the acquisition of French fashion brand JOTT by L Catterton; and
  • the sale of a minority stake in premium omni-channel retailer of cycling equipment Sigma Sports to Primary Capital.

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