10/2019100%Growth

Onatera acquired by Capital Croissance

FRANCE Consumer Products / Personal & Household / Hygiene & Beauty Brands EV €20–50M

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 [members only] in 2018, is valued in this transaction at an EV/EBITDA multiple of Above 20x.

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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.

Ent. Value

€20–50M

Equity Value

[members only]

Multiples

EV / Revenue

1x–3x

EV / EBITDA

Above 20x

EV / EBIT

[members only]

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2018

2017

Other operations with Capital Croissance

Other operations with Capital Croissance
Date	Acquirer	Target	Country	Sector
09/2026	CAPITAL CROISSANCE	BONSOIRS	FRANCE	Home & DIY
06/2024	CAPITAL CROISSANCE	STID	FRANCE	IoT & Connected Objects

Similar deals in Consumer Products

Similar deals in Consumer Products
Date	Acquirer	Target	Country	Sector
03/2020	L CATTERTON	JOTT	FRANCE	Fashion & Apparel
01/2020	SCANDINAVIAN TOBACCO GROUP	ROYAL AGIO CIGARS	NETHERLANDS	Consumer Products
07/2019	COLGATE-PALMOLIVE	FILORGA	FRANCE	Hygiene & Beauty Brands
03/2019	MAUS FRERES	THE KOOPLES	FRANCE	Fashion & Apparel
01/2019	L'OCCITANE GROUP	ELEMIS	UNITED KINGDOM	Hygiene & Beauty Brands
08/2018	PEPSICO	SODASTREAM	UNITED STATES	Consumer Products
08/2018	MANAGEMENT & PRIVATE INVESTORS	DESIGUAL	SPAIN	Fashion & Apparel
07/2018	ARGOS WITYU	JURATOYS	FRANCE	Consumer Products
07/2018	PAI PARTNERS	ASMODEE GROUP	FRANCE	Consumer Products
03/2018	TOWERBROOK	JJA	FRANCE	Home & DIY

REFERENCES

Valuation range: EV €20–50M

Revenue range: €25–50M

EBITDA range: €0–5M

EV/Revenue range: 1x - 3x

EV/EBITDA range: Above 20x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Onatera by Capital Croissance 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: onatera

FAQ

What transaction does this page cover?

This page covers Capital Croissance’s acquisition of 100% of Onatera, a French company specialised in Personal & Household, in 2019, structured as a growth equity investment to support its development.

How was the acquisition of Onatera by Capital Croissance valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the €20–50M band, its EV/EBITDA multiple within the Above 20x range, and its EV/revenue multiple within the 1x - 3x range. Exact figures are available to members.

What were Onatera’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Onatera generated annual revenue estimated in the €25–50M range and EBITDA in the €0–5M bracket (FY 2018). Detailed financial figures are available to members.

What sources support the information on this transaction?

Information on this transaction is sourced from the official corporate announcement published by the parties, corroborated by a private document shared by the community and verified by the mynth team to ensure the accuracy of the shared information.

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