Be Levels busca comprador por cerca de 350 millones

Spanish food supplement company Be Levels is seeking a buyer for around €350 million, according to multiple market sources. The company, which specializes in premium nutritional supplements, has hired financial advisor Lazard to help accelerate growth and fund international expansion. The initial stage of the process also aims to reassess the role of Axon Partners, which acquired a 17% stake in Be Levels last year.

The new investor may end up with a majority position in the company. Founders and executives are expected to remain involved in the business during this new phase. While there is no indication that Axon will reinvest any proceeds, Be Levels' valuation could reach €350 million in a corporate transaction, based on the sources consulted.

The company generated over €50 million in annual revenue and a projected EBITDA of €20 million, with valuation multiples of up to 20 times EBITDA seen in this sector. Be Levels' success is attributed to its network of around 3,000 prescribers and a subscription model that provides visibility and recurring revenue, benefiting from global trends towards physical wellness, health, and longevity.

The European market for food and nutritional supplements is projected to grow to €80 billion by 2033, up from €50 billion today, at an annual rate of 6.5%. Be Levels is led by its founders Jon Prada (CEO), Javier Echanove (Co-CEO and Operations Director), and Antonio Hernández (Medical Director and Product Formulator). The food supplement sector has attracted significant interest from venture capital funds in recent years, with Nazca Capital recently agreeing a majority stake in Aldous Bio, Magnum Capital owning Marnys, and Seaya securing 70% of Baía Food.

ProA is also present in the sector after acquiring Adventia Pharma from Cantabria Labs. In the coming weeks, the sale of Nutris is expected to begin, with Nazca Capital advised by Houlihan Lokey.