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Bain Capital and Blackstone Inc. are among private equity firms in the next round of bidding for Vitabiotics Ltd., the UK vitamin company led by ex-Dragons’ Den investor Tej Lalvani, according to people familiar with the matter.
EQT AB and TPG Inc. have also proceeded in the bidding process for Vitabiotics, which sells some of the UK’s most popular supplement brands, the people said. The business could be valued at about £900 million ($1.2 billion) in a deal, said the people, who asked not to be identified as the information is private.
Deliberations are ongoing and there’s no certainty of a transaction, according to the people. Representatives for Bain, Blackstone, EQT, TPG and Vitabiotics declined to comment.
Vitabiotics sells vitamins under brands including Wellman, Wellwoman, Pregnacare and Wellbaby. Lalvani, the company’s chief executive officer, is known in the UK from his time on the popular reality television show “Dragons’ Den”, which features entrepreneurs pitching products to a panel of investors in the hopes of receiving financial backing. He’s the son of Kartar Lalvani, founder and chairman of Vitabiotics.
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By Vinicy Chan, Ruth David and Swetha Gopinath
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