3I takes majority stake in LABORATOIRE NUTERGIA
Context
The acquisition of a 51% controlling interest in Laboratoire Nutergia by 3i presents a primary leveraged buyout transaction designed to transition a mature, founder-led enterprise into an institutionalized platform capable of capturing pan-European market share. Following a competitive auction process managed by financial advisor Houlihan Lokey involving several leading private equity sponsors, 3i secured the transaction by leveraging its institutional heritage in consumer healthcare and demonstrating complete strategic alignment with the founding Lagarde family, who will retain a 49% minority stake and remain active corporate stewards. The transaction structure utilizes an equity investment within 3i's typical 20 to 50 million euro parameters, complemented by a conservative senior secured bank debt package representing a leverage profile below four times EBITDA, fully underwritten by a ten-lender banking syndicate led by Rabobank. Immediate post-closing operational priorities include the installation of a new healthcare-vetted Chief Executive Officer to manage the growth agenda, which focuses on accelerating pharmacy network penetration, scaling high-margin digital direct channels, and executing programmatic international distribution growth, while exploiting the current well-invested production footprint to preserve high EBITDA conversion margins.
LABORATOIRE NUTERGIA, which reported an EBITDA margin of LOGIN in 2025, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the Healthcare & Pharma sector (14.8x).
Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.
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Target
Laboratoire Nutergia operates a premium, science-backed natural food supplements and micronutrition manufacturing and distribution business rooted in proprietary cellular nutrition formulations. The company develops and internalizes its entire production cycle at an established facility in France, ensuring strict compliance with high-quality pharmaceutical standards, manufacturing certifications, and raw material safety regulations required by healthcare watchdogs. The commercial architecture depends on an indirect medical prescription model, whereby volumes are driven by the systematic endorsement and brand advocacy of a captive network of healthcare professionals, pharmacists, and nutritional specialists. Revenue generation is heavily anchored in the high-margin, defensive pharmacy retail channel, which insulates product pricing from large-scale supermarket retail margin pressures, and is increasingly supplemented by direct-to-consumer digital commerce and initial export operations in Spain, Belgium, Portugal, and Poland. Procurement behaviors and recurring consumer purchase cycles are structurally supported by systemic macroeconomic tailwinds, including aging European demographics, proactive consumer health maintenance preferences, and a high degree of patient retention for premium, expert-recommended wellness products.
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Historical Financials (EUR)
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REFERENCES
Revenue range: 100M - 200M EUR
EBITDA range: 10M - 30M EUR
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Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).
Press release: view release
Target: laboratoire nutergia
Acquirer: 3i