mynth
03/2014MajorityLBO

Montagu Private Equity takes majority stake in Arkopharma

FRANCE Life Sciences / Nutrition & Dietary Supplements EV €300–700M

Context

Structured as a leveraged buyout transaction, this cross-border acquisition orchestrates the transfer of majority control of Arkopharma from the founding Rombi family to the private equity firm Montagu. Officially announced in March 2014, the agreement secures the acquisition of a controlling interest in the French phytotherapy group, with the Rombi family liquidating its historical 98.5 percent equity stake. The ownership transition concludes a foundational cycle initiated under founder Max Rombi, formalizing a corporate handover under the leadership of directoire chairman Philippe Rombi. Financially, the financial sponsor backs the enterprise to pursue sector consolidation within an expanding European nutraceutical market comprising over four hundred active operators. Arkopharma enters the transaction following a financial exercise generating an annual turnover of €150–250M. The strategic thesis articulated by the incoming controlling shareholder centers on deploying institutional capital to accelerate cross-border scale across the fragmented European OTC market, actively leveraging rising structural consumer demand for plant-based alternatives and natural geriatric treatments. The definitive agreement initiates a private equity ownership phase intended to support add-on acquisitions and expand distribution beyond historical domestic borders. To orchestrate this mid-market transaction, specialized investment banking teams provided M&A advisory support throughout negotiations: the buyer was advised by Lazard, while the selling Rombi family mandated Rothschild to manage sell-side corporate finance execution.

-> Deep-dive in Healthcare & Pharma market trends

Target

Founded in 1980 in the suburb of Carros near Nice by Max Rombi, Arkopharma operates as a fully integrated specialist in the development of phytotherapy and natural dietary supplements. The French laboratory maintains an entirely centralized industrial structure that oversees the complete value chain, encompassing raw material procurement, internal research and development, manufacturing, and direct commercial distribution. The company leverages a substantial operational footprint supported by a dedicated workforce of approximately 950 employees. Its specialized product portfolio is systematically organized around twelve key therapeutic domains, prominently featuring strategic flagship brands including Forcapil for hair care, Arkorelax for stress management, Azinc and Arkovital for energy, Arkoroyal for immunity, Cys-Control for urinary health, and Chondro-Aid for joint support. Beyond its dominant historical position within the French domestic market, the phytotherapy specialist maintains a robust European commercial network. This cross-border presence is anchored by established subsidiary operations across Spain, where it ranks as the third-largest market player, alongside localized distribution infrastructure in Portugal, Italy, Belgium, the Netherlands, and Switzerland. By maintaining continuous in-house manufacturing capabilities combined with specialized botanical extraction techniques, the laboratory supplies pharmaceutical dispensaries and retail networks with plant-based therapeutic solutions designed to address everyday health requirements.

Ent. Value

€300–700M

Equity Value

[members only]

Multiples

EV / Revenue

1x–3x

EV / EBITDA

[members only]

EV / EBIT

[members only]

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2013
€150–250M
[members only]
[members only]
2012
€150–250M
[members only]
[members only]

Other operations with Arkopharma

Other operations with Arkopharma
DateAcquirerTargetCountrySector
01/2023DERMAPHARMARKOPHARMAFRANCENutrition & Dietary Supplements

Other operations with Montagu Private Equity

Other operations with Montagu Private Equity
DateAcquirerTargetCountrySector
06/2026MONTAGU PRIVATE EQUITYBMC HELIXUNITED STATESData, Analytics & AI
04/2026MONTAGU PRIVATE EQUITYDQSGERMANYTIC (Testing, Inspection, Certification)
12/2025MONTAGU PRIVATE EQUITY / KOHLBERGTELEFLEX MEDICAL OEMUNITED STATESMedical Consumables
06/2025MONTAGU PRIVATE EQUITYMULTIFONDSLUXEMBOURGFinancial Services / Banking
02/2022MONTAGU PRIVATE EQUITY / PARTNERS GROUPHTL BIOTECHNOLOGYFRANCECDMO
07/2021MONTAGU PRIVATE EQUITYINTECH MEDICALFRANCEImplants & Prosthetics
01/2021MONTAGU PRIVATE EQUITYIMV TECHNOLOGIESFRANCER&D Biotech
02/2014MONTAGU PRIVATE EQUITYNEMERAFRANCEMedical Consumables
06/2009MONTAGU PRIVATE EQUITYADB SAFEGATEBELGIUMAerospace, Naval & Defense

Similar deals in Life Sciences

Similar deals in Life Sciences
DateAcquirerTargetCountrySector
11/2014PERRIGO COMPANYOMEGA PHARMABELGIUMGenerics / Labs
09/2014INSTITUT MERIEUX / SAGARD / SOFIPROTEOLCEVA SANTE ANIMALEFRANCEAnimal Health
02/2014MONTAGU PRIVATE EQUITYNEMERAFRANCEMedical Consumables
01/2014FIVE ARROWSDUTSCHERFRANCEMedical Consumables
10/2013ARDIANLABORATOIRES ANIOSFRANCEMedical Consumables
07/2013CHARTERHOUSEDOC GENERICIITALYGenerics / Labs
06/2013BC PARTNERSANTELLIQFRANCEAnimal Health
06/2013EURAZEOPÉTERS SURGICALFRANCEMedical Consumables
01/2013ELITECH GROUPVITAL DIAGNOSTICSUNITED STATESDiagnostic Equipment
08/2012BC PARTNERSAENOVA GROUPGERMANYCDMO

REFERENCES

Valuation range: EV €300–700M

Revenue range: €150–250M

EV/Revenue range: 1x - 3x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Arkopharma by Montagu Private Equity are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: arkopharma

Acquirer: montagu private equity

FAQ

What transaction does this page cover?

This page covers the acquisition of a majority stake in Arkopharma, a French company specialised in Nutrition & Dietary Supplements, by Montagu Private Equity in 2014, structured as a leveraged buyout (LBO). Ownership has since evolved, leading to a subsequent transaction with Dermapharm in January 2023 (see the dedicated deal page for details).

How was the acquisition of Arkopharma by Montagu Private Equity valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the €300–700M band and its EV/revenue multiple within the 1x - 3x range. Exact figures are available to members.

What was Arkopharma’s revenue at the time of the deal?

At the time of the transaction, Arkopharma’s annual revenue was estimated within the €150–250M range (FY 2013). Detailed financial figures are available to members.

How does the valuation of Arkopharma compare to benchmarks in the Healthcare & Pharma sector?

Transaction multiples for this specific deal are exclusively reserved for mynth members. By way of comparison, in 2026 companies in the Healthcare & Pharma sector are valued at a multiple of 14.3x EBITDA.

What sources support the information on this transaction?

Transaction data and operational intelligence were compiled from independent financial press reporting by specialized M&A publications.

What is mynth?

mynth is the first free M&A database dedicated to Small & Mid-Cap transactions. We centralize Enterprise Values, revenue multiples, EBITDA multiples and transaction financials that are typically locked behind five-figure subscriptions on platforms like Capital IQ or Mergermarket. On mynth, searching and browsing deals is completely free. Our mission is simple: make professional-grade valuation intelligence accessible to every M&A advisor, independent consultant, Private Equity professional and student, without the burden of expensive annual licenses.