Nutris,a company specialising in the nutraceutical sector has incorporated Nazca Capital as a majority shareholder trough a capital increase. Nazca Capital is a Spanish private equity firm focused on investing in the Spanish mid-market and the deal has been sourced through its Fund Nazca V.
Headquartered in Madrid and founded in 2013, Nutris is a nutraceutical company specialising in the production of functional gummies, sold in pharmacies, herbalists, and specialised shops.
Nutris´ goal has been to bring in a partner to support the development of an ambitious growth project, through the development of new functional projects with scientific validation in the health field. The company plans to double its size in 3/4 years, consolidating its position in functional gummies and boosting international expansion in its functional ingredients and probiotics division, taking advantage of existing market opportunities.
Functional gummies are a nutraceutical form of food supplements that provide health benefits, including the prevention and/or treatment of diseases, in areas such as immunity, cognitive development, sleep control, weight control, articular, nutricosmetics... This is a niche that is growing at double-digit rates, gaining share over traditional nutraceutical formats (tablets, capsules, capsules), thanks to the convenience of its format for the pediatric, geriatric, and adult population, as well as its organoleptic properties and preference for these formats by the population.
Nutris also commercializes functional ingredients and probiotics to its base of more than 200 clients (nutraceutical laboratories, contract manufacturers and other B2B operators). Nutris has a significant global presence with more than 50% of its sales coming from exports to countries such as the USA (14%), France (14%), the Netherlands (7%) and the UK (9%).
Nutris has managed to position itself as one of the leading manufacturers of functional gummies in Europe, achieving growth rates of 60% per year, going from a turnover of €16 million in 2020 to an estimated €25 million in 2021 and EBITDA margins of around 20%.
The project will continue to be led by Pedro de la Fuente and Inés de Santos, founding partners of the company, who have a deep knowledge of the nutraceutical sector and maintain their position as relevant shareholders.
Nazca will bring to Nutris its experience in the development of growth projects in international family-owned companies, providing the necessary resources and tools to take advantage of market opportunities.
Pedro de la Fuente, Founder and CEO of Nutris, states that “with the entry of Nazca we seek the support of a strategic partner and the contribution of funds for the next growth phase of the project, consolidating our position in the functional gummies market at international level and maintaining our innovative spirit”.
Celia Pérez-Beato, head of Nazca’s Fund V commented “The Nutris project fits perfectly with the investment strategy of our Fund V, due to its character as a family company, unique positioning, culture of innovation, growth potential and first-class management team. Our goal is to provide the resources and support to Pedro de la Fuente and Inés de Santos in their ambitious international growth project”.
Grant Thornton and Pérez Llorca have advised Nazca on this transaction, while CDI Global and VC BioLaw have advised the founders.
Nazca is a Private Equity firm specialized in the Spanish mid-market. Nazca leads its market segment, both by volume of deals and profitability. Since 2001 Nazca has invested completely Funds I, II and III with a respective size of €100, €150, and €230 million, having accomplished, with Nutris, 80 transactions: 36 direct investments in companies, 22 additional acquisitions through portfolio companies and 22 divestments.
Nazca currently manages simultaneously Nazca Fund IV with a total commitment of €300 million and Nazca Fund V of €150 million for investments in smaller SMEs, both funds mainly sponsored by international institutional investors. Nazca’s portfolio is composed of 13 companies (asides Nutris): FoodBox (retail food), Distribuciones Juan Luna (food processing), Phibo (dental implantology and prostheses), Herbex (fresh aromatic herbs), Terratest (geotechnical and tunnelling solutions), Diater (biopharmaceutical company), One Shot Hotels (hotels), Cinelux (audiovisual equipment rental), IDP (BIM-based engineering services), Filmin (VOD -video on demand- platform), Eurocebollas (food processing) and Laboratorios Almond (vegan and organic food) and Zunibal (fishing technology). For more information, please visit www.nazca.es
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