The Better Being Co., which sells vitamins and supplements under the Solaray, KAL, and other brands, announced terms for its IPO on Monday.
The Salt Lake City, UT-based company plans to raise $200 million by offering 12.5 million shares at a price range of $15 to $17. At the midpoint of the proposed range, The Better Being Co. would command a market value of $843 million.
Close comp The Bountiful Company (BTFL), maker of Nature's Bounty products, filed for a US IPO in April 2021 before announcing its core brands would be acquired by Nestle for $5.75 billion (16.8x trailing EBITDA).
The vertically integrated company manufactures and sells nutritional vitamins and supplements, beauty products, and other natural products under numerous brands, including Solaray, KAL, Zhou Nutrition, Nu U, Heritage Store, Zand, and Life Flo.
The Better Being Co. was founded in 1993 and booked $344 million in sales for the 12 months ended March 31, 2021. It plans to list on the NYSE under the symbol BBCO. Goldman Sachs, Credit Suisse, Jefferies, Deutsche Bank, Piper Sandler, and Guggenheim Securities are the joint bookrunners on the deal. It is expected to price during the week of August 2, 2021.
The article Nutraceutical maker The Better Being Co. sets terms for $200 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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