Dragons' Den star Tej Lalvani is set to sell Vitabiotics, the multivitamin company backed by celebrities including Tess Daly and Davina McCall, for £900 million. Private investment firm Bain Capital has agreed to purchase the company this week, according to sources in the City.
Sale Details and Background
Mr. Lalvani, 51, took over as chief executive of Vitabiotics in 2015, succeeding his father Kartar Lalvani, who founded the company over 50 years ago. The businessman became a household name after appearing as an investor on the BBC Two show Dragons' Den from 2017 to 2021. His notable investments include health brand Hanna Sillitoe, organic superfoods firm Rheal, and head lice treatments company NitNot.
Vitabiotics has a roster of high-profile celebrity endorsers, including Strictly Come Dancing host Tess Daly, supermodel David Gandy, and television presenter Davina McCall. Sources indicate that Bain Capital is in the final stages of acquiring the multi-million-pound company, with a deal expected to be concluded in the coming days.
Negotiations and Financial Details
However, sources with knowledge of the negotiations have told The Times that talks between the two parties are delicate, and there remains a possibility that the sale could fall through. The Lalvani family is worth £525 million, ranking 255th on The Sunday Times Rich List.
Since Tej Lalvani became CEO 11 years ago, the company—whose brands include Wellwoman, Perfectil, and Pregnacare—has reportedly grown from £101 million to £195.6 million. In April, Vitabiotics entered exclusive negotiations with Bain Capital after Houlihan Lokey narrowed potential buyers down to Bain and Blackstone, the world's largest alternative asset manager.
Company Growth and Operations
Tej Lalvani joined his father's company over 20 years ago, working his way up from driving forklifts in the warehouse. He studied pharmaceutical science in London, Germany, and India, and gained experience across various departments to understand the business inside out. Vitabiotics is now claimed to be the UK's number one vitamin company. Over the past decade, Lalvani has overseen its expansion, with products now sold in over 100 countries. The multivitamin firm turns over £300 million annually.
The Daily Mail has approached Vitabiotics and Bain Capital for comment.
