Fri, 27 Aug 2021 | BUSINESS SALE
Vitality CBD, a wellness firm based in Birmingham, has been acquired by Canadian-based Yooma in a £10.2 million deal. The acquisition comes at close to a 6.4x multiple of Vitality’s £1.6 million turnover for the six months to July 2021, on which it generated around £300,000 in EBITDA.
Vitality produces a range of products, including creams and oils, utilising cannabidiol, a natural hemp extract that is widely known as CBD. The company’s products are sold at numerous high-profile UK retailers, including Boots, Lloyds Pharmacy and Tesco.
The company has been acquired by the European business of Canadian firm Yooma Wellness, which also makes CBD products. The acquisition is Yooma’s first since its recent listing on the AQSE Growth Market in London, with the company pursuing a global buy-and-build strategy in the rapidly growing CBD market.
Yooma stated that there were considerable synergies between the two businesses and added that, post-acquisition, it would seek to grow Vitality’s revenue and margin throughout the second half of the year and ramp-up distribution of its products into new international markets.
Commenting on the acquisition, Yooma Chairman Lorne Abony said: "Completing the acquisition of Vitality is the first step of the strategic plan the company outlined to investors at the time of our UK financing and dual-listing - to buy and build companies globally, focused on materially increasing the company's top-line revenue, leveraging the group's integrated supply chain to drive margin growth and expanding distribution for the existing product portfolio.”
"This acquisition will help accelerate our growth by exporting these branded products to other Yooma jurisdictions and integrating with our MYO Plant Nutrition operations and distribution. Vitality is a market leader in the UK with presence in major retail outlets such as Boots, Tesco, Asda and Lloyds Pharmacy and we look forward to working with the team."
Vitality co-founder and MD Nikhil Nathwani added: “The whole team is excited to be joining the Yooma group. CBD is a growing industry, not only in the UK but globally, and the acquisition positions us nicely to be able to continue to expand and grow the business."
Find businesses for sale here.
If you are looking for an exit, we can help!
Boasting a healthy turnover, and a superb reputation with positive online reviews. This garage is located in a prominent position on main road in Worksop.
LEASEHOLD
Their versatile offerings include custom-crafted joinery products such as elegant doorsets, stylish TV and media units, functional desks, ingenious shelving and storage solutions, luxurious bed surrounds, stunning timber staircases, sophisticated eng...
RELOCATABLE
A well formed nationwide care employment provider in walk in condition, highly recommended and praised by their end users.
LEASEHOLD
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.