Cooper Consumer Health Expands With France's Tradiphar
Cooper Consumer Health - formerly Alpha HealthGroup - said it had gained a portfolio of "high profile brands" and strengthened its position in Europe's OTC market with the acquisition of France's Tradiphar.
M&A Awards 2020: Entry of Avista Capital Partners in Vision Healthcare nominated for best PE growth capital deal 2020
Brief description deal / Deal outline:
Avista Capital Partners – through Vision Consumer Health BV, i.e. a newly incorporated company in which VHC Investco, the management and funds managed by Avista Capital Partners participate – acquired a 50% stake in Vision Healthcare Group.
Vision Healthcare is an ambitious and fast growing, pan European Direct-to-Consumer healthcare company with a large portfolio of self-care brands and OTC products, and is actively pursuing a buy-and-build strategy, with the ambition to be a consolidator in the fragmented European landscape. In order to support this growth strategy, the New York-based private equity Avista Capital Partners entered the share capital to create a 50/50 structure alongside founder and serial-entrepreneur Yvan Vindevogel and a select group of Flemish investors. At the same moment, an attractive debt package was put in place with a US debt fund creating further firepower for the company’s growth plans.
Founded only in December 2017, the initial Vision Healthcare (“VHC”) shareholders have successfully completed the first growth wave of the company by closing an impressive track record of 10+ acquisitions and by strengthening its integration capabilities with the creation of a “digital hub”, which provides the shared digital infrastructure for the group.
Vision Healthcare operates in a rapidly growing market which currently is very fragmented and where besides itself there are no natural leaders. In order to support the second growth wave to further consolidate its position in the D2C online consumer healthcare market and grow further in Europe and other geographies, Vision Healthcare initiated a search for a new partner willing to join on a 50/50 co-control basis to complete its strategy.
Besides finding a strong financial partner to reinforce Vision Healthcare’s shareholding, the ambition of Yvan Vindevogel and other shareholders was to find a new partner with more (global) healthcare industry expertise to assist in the company’s M&A ambitions beyond Europe and to advise on the further consolidation on Vision Healthcare’s digital and e-commerce capabilities in order to become a global digital platform in the consumer healthcare sector.
What is the impact of this deal for the company?
With this deal, Vision Healthcare shareholders have prepared the company for the launch of a new growth path which would not have been possible to achieve on a stand-alone basis. The execution of the company’s ambition to further consolidate its current market position, to expand to new countries in Europe and beyond, to further widen its product offering to OTC products and to further consolidate its digital and integration capabilities in the digital hub has become much more certain with the completion of the transaction.
What is the impact of this deal for the direct stakeholders?
With this transaction, the company stakeholders have received confirmation from the markets on the mission and strategy the company pursues. Together with Avista Capital Partners, the company shareholders have lowered the risk and increased the chances of success in further executing the company’s strategy. As a result of the transaction, the dedicated persons at the level of Avista will become an integral part of the team, providing strategic insight and operational oversight with a view to help drive growth and performance, while fostering sustainable businesses and creating long-term value for all stakeholders.
What is the impact of this deal on society?
Vision Healthcare provides high-quality nutraceuticals, beauty & personal care and OTC products which allows people to further improve and support their active and health-conscious lifestyles with peace of mind (vs. a substantial part of nutraceutical and healthcare start-ups where product quality is not in line with market standards and regulation not strictly followed).
In the consumer healthcare sector, a paradigm shift of preventive health solutions and direct-to-consumer experiences is happening fast (which has only been accelerated by the changes, complexities and opportunities the COVID-19 pandemic crisis has brought along).
The transaction structure has also been devised such that a strong local anchorage of the business can be ascertained with a wide group of local blue chip investors.
Why does this deal deserve a nomination?
Vision Healthcare is one of those Belgian growth stories that show the strengths of real entrepreneurship and vision. Under the leadership of Yvan Vindevogel, this company has been able to raise worldwide interest for its journey to seize the opportunity of the paradigm shift in the consumer healthcare industry, which is progressively moving away from a “retail only” to a “digital and online” approach. Furthermore, Vision Healthcare was able to attract with Avista a global leader in the healthcare PE space (with over $6bn invested in more than 35 growth-oriented healthcare businesses globally) which will allow the company to pursue and accelerate its ambitious goals. At the same time, the financial backers of the first hour all reinvested significantly in this transaction and together with Baltisse secured through VHC Investco the Belgian anchorage of the company. The a-typical 50/50 transaction structure allows as well for a bespoke and very solid governance position where Yvan Vindevogel with the original Vision Healthcare shareholders retain a veto on a very important set of topics.
After a careful selection of a long list of potential financial partners based on fit & know-how, Avista Capital Partners was granted exclusivity in April 2020 based on offer economics, strategic fit and financial commitment to support Vision Healthcare’s buy-and-build strategy.
Negotiations were conducted in full Covid-19 and have led to the successful completion, demonstrating the quality of the file and the continued interest and dedication of all parties to reach a deal. With this transaction, Vision Healthcare awakens with additional financial firepower and with deep industry expertise from Avista Capital Partners to confirm its positioning as a leading European direct-to-consumer and online consumer healthcare platform in a fairly new and rapidly growing market which currently is still very fragmented, ready for its second growth wave, i.e. ready to conquer additional market share in existing markets, enter new markets in Europe and beyond, increase its product portfolio (particularly in OTC) and bring its integration and digital capabilities to the next level.
Avista Capital Backs Consumer Health-Care Company in $336 Million Deal
Private-equity firm Avista Capital Partners is buying a stake in Vision Healthcare NV in a deal that values the direct-to-consumer health-care products company at around €305 million ($336 million)
Vision Consumer Health group announces the acquisition of Vision Healthcare NV
Vision Consumer Health, a company backed by VHC Investco (partly backed by Damier Group), the company’s management and funds managed by Avista Capital Partners, acquires 100% of the shares of Vision Healthcare NVread more
VHC Investco and Avista Capital Partners acquire Vision Healthcare NV
Avista Capital Partners, a leading healthcare private equity firm, along with VHC Investco and company management, today announced the acquisition of Vision Healthcare NV
Cooper-Vemedia acquires product portfolio from Sanofi.
Damier NV, the investment vehicle of Yvan Vindevogel, and Charterhouse Capital Partners LLP today announce that Cooper-Vemedia (“the Company”), a leading European OTC drug manufacturer and distributor, has acquired a portfolio of 12 pharmaceutical brands from Sanofi S.A. (“Sanofi”) for an amount of €158m.read more
Yvan Vindevogel droomt van grote overname.
De farma-ondernemer Yvan Vindevogel zet vol in op de verkoop van voedingssupplementen en gezondheidsproducten via het internet. ‘We zijn daarin een voorloper en willen snel naar een grotere schaal.’
Vision Healthcare emerged from Damier Group.
In order to ensure a consistent market approach, the Damier Group has created a new subsidiary, Vision Healthcare, as a strong and future-oriented vehicle carrying all its self-care and health related brands and companies.
Press release: The Damier Group, through its subsidiary Vision Healthcare, acquires Squad Communication Team based in Harelbeke/Belgium.
Squad has over 25 years of experience in creating brands and launching products and services of tomorrow. We’re problem solvers, designers and visual storytellers who develop the environments, packages and communications that impact brand experiences.
Press release: Damier Group announces the acquisition of Remark B.V., one of the leading Dutch Consumer Healthcare & Cosmetics companies.
The Damier group reached an agreement with the founder of Remark B.V., Jan Wouda, for the acquisition of 100% of the shares in Remark B.V., one of the key players in the Dutch Consumer Healthcare & Cosmetics market.
Press Release: Damier Group announces the acquisition of Purasana.
Damier Group announces the acquisition of Purasana, the Belgian market leader in branded and high quality healthy foods, food supplements and organic products.read more
Press Release: Damier acquires 100% of German based Bärbel Drexel.
Damier Group announces the acquisition of Bärbel Drexel, a German market leader in the mailorder and e-commerce branded direct-to-consumer market of vitamins and nutritional supplements.read more
News: Damier (Yvan Vindevogel) to invest in launchpad digital health.
The Damier Group NV and Launchpad Digital Health LLC have reached an agreement for Damier to invest a considerable amount in the San Francisco based investor in early-stage digital health companies and start-ups. This investment further strengthens Damier’s position within the consumer healthcare market and will allow Damier to further adapt its strategy and portfolio companies to current trends and technologies, both off- and online at an early stage.read more
News: The largest (and most luxurious) party cruise sets sail on august 31, 2017
One of the world’s most luxurious cruise liners, a crew of 1,400 for 4,000 passengers, 7 stages hosted by some of the best known and highly regarded clubs and party-concepts on the planet, over 50 DJs from a variety of electronic music genres and first-class entertainment. Those are the ingredients for ‘THE ARK’, a 4-day party cruise that will make its maiden voyage on August 31, from Barcelona. The Belgian organisers have created the concept to appeal to an international crowd looking for a mini-vacation with the luxury and comfort of a cruise liner, combined with the finest in electronic music.read more
News: The sale of Vemedia Consumer Health to Alpha Topco – majority owned by Charterhouse – and Vemedia’s management team was completed early October.
Simultanuously, the sale of the Vision Healthcare brands (including the suncare product Vision) to Vemedia Consumer Health was also completed.
Damier has reinvested a substantial amount in Alpha Topco, the combined group consisting of Cooper and Vemedia.
About Damier: Damier as an investment vehicle will continue to primarily invest in European companies and assets active in branded consumer healthcare sector. Damier also focuses on acquiring or investing in well-established brands or innovative technologies in the consumer healthcare, beauty, personal care and medical devices sectors. With Flinndal, its leading VMS (VitaminsMineralsSupplements) E- commerce platform in the Netherlands, Damier also invested in the E-commerce business and intends to reinforce its position in this area going forward.
Press Release: OTC Bulletin Vemedia snapped up by charterhouse:
Vemedia Consumer Health is set to be acquired by private-equity firm Charterhouse Capital Partners in a deal worth EUR375 million. The acquisition will expand Charterhouse’s presence in Europe’s consumer healthcare market, which it entered last year when it snapped up French OTC player Laboratoire Cooper.
“The combination of Vemedia and Cooper will create a European market leader in the OTC drugs sector,” commented Charterhouse. “The two businesses are highly complementary, and will be well positioned to lead the further consolidation of the European OTC medicines industry.” Under the terms of the deal, ownership of Vemedia with pass from IK Investment Partners to Alpha Topco, a subsidiary of Charterhouse. Damier Group – a minority investor in Vemedia – has promised to invest a “substantial amount” in Alpha Topco to support the growth of the business. Yvan Vindevogel, Vemedia’s chairman and Damier’s chief executive officer, said he was “convinced” that Charterhouse was “the right partner” to further execute Vemedia’s strategic plans through “internal, geographical and external growth”.
Press Release: OTC Toolbox Private-equity deal connects Vemedia to Cooper:
“Netherlands-based Vemedia Consumer Health is set to be acquired for EUR375 million (US$416 million) by Alpha Topco – which is majority-owned by private-equity firm Charterhouse Capital Partners – and Vemedia’s management. Following completion of the deal, Vemedia will work closely with French OTC company Laboratoire Cooper, which was recently acquired by Charterhouse.”
Take-over of Vemedia Consumer Health by Alpha Topco (majority owned by Charterhouse) and the Management.read more
Press Release: Le Figaro
Vemedia: “Yvan Vindevogel relance la marque Oenobiol rachetée à Sanofi.”read more
Press Release: Exit ABC Chemicals
ABC Chemicals, a key player on the Belgian market of raw materials and ingredients used for compounding in pharmacies, hospitals and others, is sold to Fagron.
Press Release: OTC Toolbox
Damier buys e-commerce VMS firm Flinndal: “Damier Group has acquired Flinndal – the e-commerce vitamins, minerals and supplements (VMS) business based in the Netherlands – for an undisclosed sum. Chief executive officer Yvan Vindevogel said Damier wanted to build Flinndal into a pan-European e-commerce VMS platform.”
Press Release: Damier Group announces the acquisition of Flinndal.
Flindal, the Dutch and Belgian leader in the online branded business-to-consumer market of vitamins and nutritional supplements.read more
Press Release: OTC Bulletin
The business newsletter for the consumer healthcare industry. “Damier makes major move with Dutch portfolio deal.”read more
An investment vehicle founded by consumer healthcare entrepreneur Yvan Vindevogel is on the lookout for well-established brands and innovative technologies, as it seeks to build a significant presence in Europe. Damier Group is also seeking distributors in key countries.
The Damier Group, through its subsidiary Vision Healthcare, acquires Takeda’s Consumer Healthcare products in the Netherlands.read more
Press Release: OTC Bulletin
The business newsletter for the consumer healthcare industry. “Vindevogel on the hunt for opportunities.”read more
The Damier Group, through its subsidiary Euphaco, participates in the acquisition of ABC Chemicals from the Vemedia group.read more