(Bloomberg) -- CVC Capital Partners and L Catterton are among the private equity firms bidding for German premium vitamin supplement maker Orthomol, people familiar with the matter said.
Advent International, Blackstone Inc., Groupe Bruxelles Lambert NV and PAI Partners have also proceeded into the next round of bidding, according to the people. Orthomol and its founding family have been working with Houlihan Lokey Inc. and are seeking about €1 billion ($1.1 billion) in the potential sale, they said.
Orthomol’s earnings before interest, taxes, depreciation and amortization is slightly more than €60 million, the people said, asking not to be identified discussing confidential information. The price expectations by the owners could be difficult to reach, some of the people said.
Orthomol makes supplements from omega and Vitamin C for children and adults to micro-nutrients for prenatal dietary and improving sleep quality. Its products are available in more than 30 countries in Europe as well as in Japan, South Korea, Russia and the US, its website shows.
The company was founded in 1991 by Kristian Glagau in western German town of Langenfeld. It remains a family business. Kristian’s son Nils Glagau is the current owner and managing director. Nils has also been an investor on the reality TV show Dragon’s Den on VOX in Germany.
Deliberations are ongoing and the bidders could still change their plans as the process progresses, the people said. Orthomol and its owners could also decide against any deal, they added. Representatives for Advent, Blackstone, Bruxelles Lambert, CVC, Houlihan, L Catterton, Orthomol and PAI declined to comment.
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