22 January 2021 - Deborah Wilkes
Self-care group Venture Life is keen to acquire consumer healthcare brands following its recent funding round, according to chief executive officer Jerry Randall.
Randall told OTCToolbox that the UK-based company was interested in acquiring consumer healthcare brands that were sold through pharmacy and grocery multiples.
He said Venture Life was “fairly category agnostic” but was primarily interested in products that could be manufactured by the company including liquids, creams and gels.
Venture Life wouldn’t rule out acquiring food supplements, he told OTCToolbox, but liquids, creams and gels were the priority.
In terms of countries, Randall said the primary focus was on making acquisitions in Italy, the Netherlands and the UK – the three countries where Venture Life has its own operations. “With acquisitions,” he commented, “the further away from home you get, the harder they are.”
Randall added that Venture Life was “ideally looking for products that are established in one market, or maybe two, and could be built internationally”.
Details of the funding round
Venture Life raised GBP36 million (USD49 million) in November 2020. GBP34 million was raised through a placing by Cenkos Securities to certain institutional and other investors, with an additional GBP2 million raised through an open offer made to qualifying shareholders (click here to read the News story).
Following the funding round, Venture Life said it would focus its efforts on brand acquisition opportunities within the consumer healthcare sector.
Randall pointed out that the self-care market had continued to thrive during the COVID-19 pandemic. “As consumers take a holistic approach to self-care and preventative wellness, our goal is to support them by providing a diverse range of effective and clinically proven products across a number of key therapeutic areas,” he said. “Our vision is to acquire consumer healthcare brands that diversify our existing portfolio and increase market share within the category as we move into 2022.”
Venture Life was founded in 2010 by Randall and Sharon Collins. The company’s acquisitions include the Dentyl mouthwash in 2018 and the UltraDEX range of oral-care products in 2016.
The company's product portfolio also includes Bioscalin for preventing hair loss, hair thinning and baldness; MycoClear for preventing and treating fungal nail infections; NeuroAge food supplements for brain and memory; Procto-eze plus for haemorrhoids; Rosa calma for managing rosacea; and Vonalei women's healthcare products.
Venture Life reported sales up by 80% to GBP16.9 million in the first half of 2020 (click here to read the news story).
The company said 65 percentage points of the rise had come from organic growth and 15 percentage points from the acquisition of PharmaSource.
Venture Life announced in December 2019 that it was expanding its presence in continental Europe by acquiring Netherlands-based PharmaSource in a deal worth up to EUR6.50 million (USD7.30 million) (click here to read the News story).
At the time, Randall said acquiring the contract development and distribution company gave UK-based Venture Life its “first European footprint directly into the retailer market”.
Venture Life’s adjusted Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) increased by 368% to GBP3.5 million in the first half of 2020, giving an EBITDA margin of 21%
Randall said the result was a “remarkable achievement” amidst an extremely challenging backdrop of the COVID-19 pandemic.