US private equity giant Bain Capital is taking control of the company behind Pregnacare, Wellman and Wellwoman
One of Britain’s best-known family business empires is changing hands after more than half a century.
Former Dragons’ Den investor Tej Lalvani and his family have agreed to sell Vitabiotics to US private equity giant Bain Capital, ending the family’s ownership of the vitamins company.
Neither party has disclosed the value of the transaction, although reports suggest Bain will pay between £900million and £1billion.
The agreement follows an auction process launched by the Lalvani family earlier this year. It covers the entire Vitabiotics operation, including its UK business, the wider VB group and operations in India and Africa.
Mr Lalvani, who is expected to receive a substantial personal windfall, described the sale as "a defining moment" in the company’s history.
Vitabiotics was founded in 1971 by his father, scientist and entrepreneur Prof Kartar Lalvani, who developed it into Britain's largest vitamin company by sales.
Its portfolio includes some of the country’s most recognisable supplement brands, such as Pregnacare, Wellman, Wellwoman and Perfectil, with products sold in more than 70 countries.
The company has also worked with several celebrity ambassadors. Television presenter Tess Daly represents Wellwoman, model David Gandy is the face of Wellman, and Davina McCall has also promoted the brand.
Throughout its history, the firm operated without external investors, bank borrowing or overdraft facilities, according to Mr Lalvani's previous statements, a remarkable distinction for a business of its scale.
Mr Lalvani, now 52, started his career at Vitabiotics from the bottom, initially sticking labels on boxes in the warehouse before rotating through every department in the company.
He has pushed back against any suggestion that his role was simply handed to him, noting that his father held him to higher standards than other staff.
After taking the reins as chief executive in 2015, he drove the company's global expansion and became a household name through four series of Dragons' Den between 2017 and 2021, before Steven Bartlett took his seat.
Mr Lalvani said: "This direction is not about changing who we are; it is about accelerating what we can become."
Its portfolio includes supplement brands, such as Pregnacare, Wellman and Wellwoman
He added: "With Bain Capital's global expertise and investment behind us, we have a unique opportunity to expand internationally, accelerate our innovation, and take our trusted brands to millions more consumers, while staying true to the science, quality and values that have defined Vitabiotics for more than 55 years."
Bain Capital has outlined plans to pour resources into new product development, e-commerce capabilities, supply chain improvements and international distribution, with particular focus on markets in India, China, the Middle East and Africa.
The firm pledged that the UK would remain central to the business, with no immediate operational changes planned.
Pawan Singh, a Bain Capital partner, said: "Vitabiotics is exactly the type of business we support: a trusted, science-led brand platform with category leadership, strong healthcare professional credibility and meaningful presence across the UK, India, the Middle East, Africa and China."
The Lalvani family set the sale in motion by launching a formal auction process earlier in the year, ultimately selecting Bain Capital from among the bidders.
Bain Capital, which also holds a majority stake in outerwear brand Canada Goose, described the acquisition as marking the start of a phase of "planned rapid international growth and expansion."
The transaction remains subject to regulatory approval before it can be finalised.
