INULA GROUP acquired by ARDIAN
Context
Ardian acquired a majority stake in Inula from Vendis Capital and founder Dominique Baudoux. The founder and Vendis Capital retained reinvestment options, while the CEO and the management team reinvested significantly to increase their equity stake. The acquisition aimed to leverage Ardian's global footprint to accelerate Inula's expansion in the US, Italy, and Germany, and to pursue buy-and-build opportunities in the fragmented aromatherapy market.
INULA GROUP, which reported an EBITDA margin of LOGIN in 2017, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the Healthcare & Pharma sector (14.8x).
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Target
Inula is a leading Belgian group specializing in natural therapies and phytotherapy. It operates through three flagship brands: Pranarom (scientific aromatherapy/essential oils), HerbalGem (concentrated gemmotherapy), and Biofloral (Bach flowers and floral extracts). The group is distinguished by its medical and scientific approach to natural products, sold primarily through pharmacies and organic specialty stores.
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Historical Financials (EUR)
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REFERENCES
Valuation range: EV 500M - 1.5b EUR
Revenue range: 50M - 100M EUR
EBITDA range: 25M - 50M 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: inula group
Acquirer: ardian