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IMAP advises healthcare company Bonusan on strategic partnership with bd-capital

Bonusan has a large assortment of premium products ranging from vitamins and minerals to pro- and prebiotics, which are produced in their in-house production facility in Numansdorp

IMAP is pleased to announce that Bonusan, a healthcare company with over 120 years of experience in food supplements, has entered a strategic partnership with bd-capital to accelerate their growth ambitions; improving the health and wellbeing of an ever-increasing number of people across Europe.

Four generations of the Bogaerds family have created an authority in the market of food supplements, driven by passion and entrepreneurship, based on science-based products and in close cooperation with healthcare professionals. Originally reaching the end-consumer via healthcare professionals, wholesalers, retailers and e-tailers, Bonusan has also developed and launched a direct-to-consumer (“D2C”) sales channel. Bonusan has a large assortment of premium products ranging from vitamins and minerals to pro- and prebiotics, which are produced in their in-house production facility in Numansdorp. Additionally, the company offers an education and training platform for healthcare professionals via its subsidiary the Natura Foundation.

Originally UK-based, bd-capital is a private equity firm investing in healthcare products and services, consumer products and tech-enabled services. bd-capital has a Pan-European reach and investment strategy with investment hubs in the UK, Benelux and Iberia which are supported by an extensive network of business leaders. This combination of business leadership and private equity expertise in the founding team is designed to implement the next evolution of operator led investing, with experienced business leaders working side by side with private equity investors in a single team to support companies and their stakeholders. The partnership with Bonusan is the first Dutch activity of bd-capital and complements their previous acquisition of Symprove, an innovative disruptor in the UK probiotics market.

The shareholders of Bonusan initiated the search for a partner who would support the growth of the business while sharing their vision of maintaining the high-quality standards of Bonusan’s products. The partnership with bd-capital will allow Bonusan and the Natura Foundation to increase their reach and make more of a positive impact on the health and wellbeing of consumers across Europe. bd-capital attributes great significance to the Bonusan history, its value-add to healthcare professionals and their clients, and the important role of the Natura Foundation as a leading training institute and knowledge centre in its field.

Market Insights
The Vitamins & Minerals market is expected to grow significantly in the next few years. Demand for personalised healthcare solutions continues to grow rapidly on the back of various trends such as an ageing population and the overall increasing focus by consumers on health and prevention. As well as these trends, which contribute to the rising demand for products that delay the effects of ageing and illness in general, other consumers, such as vegetarians, are looking for products to supplement their diets, or in the case of athletes or regular gym members, boost performance and endurance. This growth in the Vitamins & Minerals market has resulted in a large number of recent acquisitions by both strategic and financial parties, resulting in a more consolidated market.

IMAP Approach
The IMAP Netherlands team, comprising Balthazar den Breems, Kevin Weij, Iris Karthaus and Rens Wisman successfully advised Bonusan on the selection of bd-capital as strategic partner. IMAP Netherlands carefully prepared the process together with the shareholders and management, leveraging its strong understanding of the fundamentals and characteristics of the food supplements industry. A tailor-made process was initiated within an international landscape of potential partners. IMAP Netherlands supported Bonusan throughout the full process and assisted in finding the best possible partner in a global industry and structuring the best deal.

Client Comment
Rik Bogaerds, shareholder of Bonusan commented: “The advisors from IMAP Netherlands proved to be highly skilful and showcased thorough understanding of the Vitamins & Minerals market. They carefully guided us through the various steps of the process and emphasized on unburdening us throughout the full transaction process.”

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