ONATERA acquired by CAPITAL CROISSANCE
Context
Capital Croissance, a French growth equity firm, entered the capital of Onatera through a growth equity transaction structured as a capital reorganization and recapitalization. The deal involves an equity injection alongside a reshuffling of existing shareholders, with Capital Croissance taking the place of exiting shareholder Entrepreneur Venture, which had entered the company in 2015. The operation is designed to support Onatera’s next phase of expansion, including business model evolution, geographic reach, and potential external growth opportunities. The funds are intended to finance initiatives such as the deployment of physical retail locations, international development, and further optimization of the digital and logistics infrastructure. From a strategic standpoint, the transaction provides Onatera with both capital and advisory support from an investor club composed of entrepreneurs and family offices, reinforcing governance and access to networks.
ONATERA, which reported an EBITDA margin of LOGIN in 2018, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level LOGIN than the average currently observed in the Retail & Consumer sector (11.0x).
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
Onatera is a French e‑commerce company dedicated to the online retail of natural health, beauty, and nutrition products. Founded in 2011 by Davy Drezet and Sonia d’Ambrosio in Aix‑en‑Provence, the company has evolved from its original identity as “Ma Boutique O Naturel” into a leading digital platform for natural wellbeing. It operates an online marketplace offering more than 7,000 references of food supplements, cosmetics, essential oils, and superfoods, all of natural or organic origin. Onatera serves over 350,000 customers per year and has become one of the largest dedicated natural health e‑commerce sites in France by revenue. The company combines multi‑brand distribution with a range of exclusive, in‑house brands such as Orfito, Terraïa, SanaGaïa, SelvaSana, and CosmeSana, which have contributed to its ability to differentiate its assortment and capture a meaningful share of the fast‑growing natural beauty and wellness segment. Onatera has complemented its online model with a first physical store launched in 2017 and is exploring a hybrid retail footprint to reach a broader customer base while maintaining a strong digital core.
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Historical Financials (EUR)
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REFERENCES
Valuation range: EV 20M - 50M EUR
Revenue range: 25M - 50M EUR
EBITDA range: 0M - 5M 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: onatera
Acquirer: capital croissance