After a busy 2025, buyers remained focused on assets that expand manufacturing and cross-border distribution capabilities, broaden dosage‑form offerings and strengthen supply‑chain control.
Across mergers, acquisitions and growth investments, capital deployment prioritized clear consumer traction, differentiated capabilities and the operational maturity needed to support sustained growth.
Recent strategic investments in brands such as Create Wellness, Huel and Bioniq illustrate this shift, highlighting conviction in models that move beyond single‑product offerings toward integrated platforms combining format innovation, digital and retail distribution, and technology‑enabled personalization in high-growth categories.
Collectively, the quarter’s activity pointed to a market defined by execution at scale, with convergence around businesses built to perform in an increasingly complex operating environment.
Mergers & acquisitions
Danone and Huel: Danone is expanding its portfolio in functional nutrition, entering into a definitive agreement to acquire British nutrition startup Huel for approximately $1.2 billion (€1 billion).
“Combining their range and best-in-class digital capabilities with Danone’s global reach and deep nutritional expertise offers exciting opportunities into the new and fast-growing nutritionally complete space, in line with our Renew Danone strategy,” Antoine de Saint-Affrique, CEO of Danone SA, shared in a statement.
Over the last decade, Huel has built an omnichannel business for its complete nutrition solutions with a strong direct-to-consumer foundation, an expanding international footprint and a fast-scaling retail business. The transaction remains subject to customary closing conditions, including regulatory approvals.
Opens in new windowHerbalife and Bioniq: Herbalife announced an agreement to acquire certain assets from UK-based personalized supplement company Bioniq for $55 million.
The transaction—which is expected to close in the second quarter of 2026 and is subject to customary closing conditions and regulatory approvals—advances Herbalife’s vision of becoming a technology-enabled, data-driven health and wellness platform.
“The future of health and wellness is becoming more personalized and informed by data,” Stephan Gratziani, chief executive officer at Herbalife, shared in a statement. “By combining Bioniq’s personalized supplement technology with Pro2col and the power of our global distributor network, we are expanding our ability to deliver personalized wellness at global scale.”
Bioniq builds on Herbalife’s prior acquisitions of Pro2col and Link BioSciences by enabling Herbalife to offer a broader range of personalized nutritional supplements across multiple delivery formats and expands Bioniq to expand personalized nutrition at scale and speed through Hebalife’s global manufacturing platform.
Commenting on the news, long-time global nutrition partner of Herbalife and Bioniq shareholder, Cristiano Ronaldo shares Herbalife’s vision to accelerate the availability of personalized nutritional supplements at scale through its global distributor network.
“Throughout my career, biometrics and personalized nutrition have been central to helping me perform and compete at the highest level, he said. “I’m delighted to see Bioniq’s personalized supplements become part of Herbalife’s expanding access to nutritional supplements, helping people take a more informed approach to their health, wellness and performance.”
The purchase price will be paid over five years, including an initial payment of $10 million at closing. In addition, the transaction value includes up to $95 million of contingent payments based on future performance.
Opens in new windowIcelandirect and SOMA LABS: Omega-3 contract manufacturer Icelandirect, a portfolio company of New Heritage Capital, acquired New Jersey-based supplement manufacturer Soma Labs, which specializes in solid dosage form production. The transaction is a direct investment in capability across both the human nutrition and pet supplement markets and transitions Icelandirect from lipid and softgel player to turnkey product provider with the addition of powder, tablet, capsule and chewable capabilities. Soma Labs will operate as an integrated division of Icelandirect, with its New Jersey facility remaining fully operational.
Monterey Bay Herb and NP Nutra: Monterey Bay Herb Co. acquired ingredient supplier NP Nutra, adding a broad range of specialty and extract-based SKUs and deepening sourcing expertise across high-growth categories including superfruits, supergreens and proprietary blends. The combined company will offer more than 1,000 products across herbs, botanicals and extracts, serving customers across nutraceuticals, food and beverage, health and beauty, and pet nutrition. NP Nutra will continue operating from its Carson, CA facility.
Metagenics and Symprove: Healthcare practitioner brand Metagenics acquired UK-based liquid format probiotic brand Symprove from bd-capital. Terms of the transaction were not disclosed, however, Metagenics and its sponsor, Gryphon Investors, concurrently announced completion of a strategic debt recapitalization to provide Metagenics with ample capital to continue investing in organic and M&A growth opportunities. Symprove will continue to be led by CEO Will Bowler.
Opens in new windowHindustan Unilever (HUL) and OZiva: In February 2026, HUL announced that it would fully acquire clean-label women’s health company OZiva (Zywie Ventures Private Limited) for approximately US$90 million. According to Priya Nair, CEO and managing director at HUL, the acquisition responds to rising consumer interest in everyday wellness and is expected to unlock a new phase of growth. This announcement was accompanied by news of HUL’s divestment of its 19.8% stake in Nutritionalab Private Limited (Wellbeing Nutrition) to USV Private Limited for INR 3.07 billion (US$33.9 million). USV signed a definitive agreement to acquire a total 79% stake in the company to bolster its metabolic health portfolio.
Opens in new windowNestlé merges divisions: In February, Nestlé announced plans to merge its nutrition and health science divisions into a single business unit. Following this reorganization, the company launched Nestlé Vital, a range of longevity drinks designed to address nutritional gaps in aging adults.
Martin Bauer, Finzelberg and MB-Med: Botanical expert MartinBauer came together with Finzelberg and MB-Med under a single Nutraceutical Unit, which will act as a unified partner for companies by connecting raw material expertise, advanced extraction, clinical substantiation and market-ready ingredient development.
“The new nutraceutical unit acts as a single gateway to the world of botanicals, and was formed to raise the bar for quality, credibility and collaboration in the nutraceutical industry,” said Anina Krey, global director of the Nutraceutical Unit.
“By consolidating production, supply and logistics across major regions, we can improve capability and speed to market. In addition, harmonized planning shortens lead times, regional manufacturing hubs offer flexible capacity, and vertical integration gives customers a predictable supply—even when market conditions are unstable. The result is a more connected, more resilient pathway from concept to finished product.”
Opens in new windowThe Riverside Company and Western Botanicals: The Riverside Company acquired CDMO Western Botanicals from independent investment bank and financial advisory firm Brown Gibbons Lang & Company (BGL). Founded in 1996, Western Botanicals (Wb Blends) formulates, manufactures and packages VMS products in capsule, powder and liquid formats at its 140,000-square-foot facility near Provo in Spanish Fork, Utah. The acquisition aligns with The Riverside Company’s health, longevity and flavor investment thesis, which targets businesses benefiting from demographic, wellness and innovation trends. The Western Botanicals transaction is BGL’s third transaction in the CDMO subsector and fourth transaction within the broader VMS industry. William Hood & Company served as financial advisor to The Riverside Company.
Key takeaways
Platform and capability building is the primary deal driver: Buyers are using M&A to add formats, manufacturing depth and technical capabilities.
Vertical integration continues to accelerate: Transactions reflect a clear push to bring formulation, manufacturing and ingredient sourcing in‑house to improve quality control, margin capture and supply‑chain resilience.
Everyday wellness, women’s health and longevity are the growth lanes: Portfolio moves signal increasing alignment between supplements, nutrition and health science, with capital flowing toward preventive and condition‑led solutions.
Strategic partnerships & alliances
Myprotein and Mars: UK-based sports nutrition brand Myprotein expanded its partnership with Mars Wrigley with the March 24 launch of a new Mars-flavored version of its Impact Whey Protein, as the sports nutrition brand continues to push further into products that blend performance nutrition with familiar confectionery tastes. The product delivers 20 grams of whey protein per serving and combines chocolate, caramel and malt flavors. It follows the brand’s November launch of Snickers-flavored protein products.
Smarty Pants and Community of Mothers: Chamber of Mothers teamed up with SmartyPants Vitamins to Launch CoM Unity, a national initiative strengthening community care for mothers. The nonprofit, which advocates for mothers on paid leave, affordable childcare and maternal health, announced the launch in February as it seeks to strengthen community care by reconnecting mothers to one another. SmartyPants joins as founding partner, recognizing that community, like nutrition, is foundational to health and aligning with its mission to optimize maternal and child nutrition and well-being as part of a more holistic approach.
Opens in new windowMaolac and Caldic: Israeli biotechnology firm Maolac partnered with Toronto-based Caldic to market and distribute its portfolio of colostrum-based ingredients across the North American nutrition sector, with commercial rollout planned for 2026. Current offerings include Maolactin-GI for gut comfort and microbiome balance; Maolactin-FMR for rapid muscle recovery, joint support, mobility and longevity; and Super Colostrum, a next-generation concentrated colostrum ingredient optimized for solubility, neutral sensory performance and requiring very low usage levels.
ThreoTech and IGEA Nutrition: Functional ingredients manufacturer Threotech announced its expansion into the Australia and New Zealand (ANZ) market, appointing IGEA Nutrition to lead market development for Magtein (magnesium L-threonate) across the region. As part of its market development strategy, IGEA Nutrition plans to showcase Magtein for cognitive health, sleep and neurological function at key industry events across Australia and New Zealand.
Opella and Verb Biotics: Opella (a Sanofi consumer healthcare company) entered a strategic and exclusive partnership with precision biotic biotech company Verb Biotics for the development and commercialization of a next-generation probiotic strain. This partnership aims to support the growth of Opella’s brands with targeted solutions in digestive wellness and interconnected health benefits based on Verb Biotics advanced microbiome technology.
Botalys and Biohm: While not a formal strategic partnership, the companies presented a new formulation concept for multi-system post-workout recovery. The concept combined Botalys biomimetically cultivated red ginseng and Biohm’s Phorum postbiotic. Together, the ingredients are presented as dual-axis ingredient system designed for active nutrition formulations.
Opens in new windowLive Conscious and Vitamin Angels: Live Conscious, a women-led wellness brand serving a 79% female community, announced its commitment to support global nonprofit Vitamin Angels through a fixed annual pledge to support efforts to expand access to essential vitamins and minerals for underserved women and children worldwide.
AG1 and The Vitamin Shoppe: AG1 launched nationwide in over 640 locations of The Vitamin Shoppe and Super Supplements and on vitaminshoppe.com. The assortment includes the AG1 14-count stick pack, AG1 30-count stick pack and AG1 Start Here Kit, which includes a 7-count stick pack, branded shaker and habit journal.
Momentous and The Vitamin Shoppe: Human performance company Momentous also launched nationwide in The Vitamin Shoppe and Super Supplements and online at vitaminshoppe.com. The retailer will carry over a dozen Momentous products, including Whey Protein Isolate, Creatine, Longevity and Collagen. The launch comes at a time when consumers are increasingly seeking out supplements that are third-party tested and NSF-Certified for Sport.
Opens in new windowArnold Schwarzenegger and Momentous: Momentous announced a multi-year partnership with Arnold Schwarzenegger and the launch of The Arnold Stack, a curated selection of products powered by The Momentous Standard. The stack—available for $102.85—includes protein (available in whey isolate and plant-based options), creatine and vitamin D3, presented as stripping away complexity to focus on the proven essentials and science-backed fundamentals of performance.
“I trust Momentous because they do things the right way, not the easy way,” Schwarzenegger shared in a press release. “Real science, high standards, no shortcuts. This partnership is about cutting through the noise and helping people focus on what truly works to build a foundation to stay fit, healthy and strong for life.”
Magtein and Arnold’s Pump Club: ThreoTech, the exclusive global supplier and patent licensee for Magtein, announced a new partnership with Arnold’s Pump Club, Arnold Schwarzenegger’s official email newsletter and daily podcast focused on practical, science-backed wellness. The partnership will create evidence-led consumer education designed to help audiences better understand the science behind magnesium L-threonate, delivered in the Pump Club’s approachable “make science make sense” style.
Key takeaways
Partnerships are expanding beyond product into purpose and community: Brands are aligning with nonprofits, advocacy groups and respected authorities to connect nutrition with broader social and wellness outcomes.
Ingredient innovation is becoming more system‑led: Collaborations increasingly focus on multi‑ingredient, multi‑benefit concepts that target interconnected health systems.
Go‑to‑market partnerships are driving global expansion: Distribution and market‑development alliances remain a key lever for scaling science‑backed ingredients into new geographies and accelerating commercial rollout.
Retail, certification and credibility is on the rise: National retail launches, third‑party testing and science‑led brand partnerships underscore increasing consumer demand for trust, performance validation and simplified wellness solutions.
Investments, divestments & stakes
Cristiano Ronaldo strengthened his long-term partnership with Herbalife by investing $7.5 million for a 10% equity stake in HBL Pro2col Software, a subsidiary focusing on personalized, data-driven wellness technology. A global brand ambassador for Herbalife since 2013, Ronaldo also co-created the Herbalife24 CR7 Drive sports drink. According to a NYSE report, the investment news caused Herbalife shares to rise by over 18%.
Opens in new windowCreatine gummy company Create Wellness raised $20 million in capital and plans to use the Series B funding to accelerate its next phase of growth, including expanding retail distribution, investing in consumer education, advancing product innovation and scaling marketing efforts to support the mainstream adoption of creatine as a core component of modern wellness routines. The round was led by Alliance Consumer Growth (ACG), along with Impact Capital (the family office of CPG entrepreneur Mike Repole, known for co-founding brands like vitaminwater and BODYARMOR) and included participation from existing company investor Unilever Ventures.
Opens in new windowIndian CPG giant Marico agreed to buy a 60% stake in Cosmix Wellness, a vegan protein and supplements startup that appeared on Shark Tank and sells wellness products including plant-based and fermented yeast protein powders, superfood blends, multivitamins and a range of targeted supplements. In addition to acquiring the controlling stake for INR 226 ($25 million). Marico retains the option to acquire the remaining 40% after the 2029 financial year. Cosmix will operate as a subsidiary of the CPG giant.
Skin microbiome firm Sequential closed its first equity round, securing $3.5 million to support the development of an AI-powered discovery engine built on the company’s proprietary real-world clinical dataset (which includes over 50,000 human skin microbiome samples) to enable the prediction, optimization and discovery of next-generation active complexes and novel bioactive ingredients. The round was co-led by Sparkfood and Corundum Systems Biology (CSB), with participation from Dermazone Holdings, SOSV, Scrum Ventures, an ex-General Partner at Index Ventures, alongside continued support from Innovate UK. With this raise, Sequential has secured a total of $7.5 million in dilutive and non-dilutive funding to date.
Opens in new windowGlobal private equity firm Manna Tree made a strategic investment in Plant People, a fast-growing wellness brand specializing in practitioner-grade, functional “Wonder” gummy supplements across categories including sleep, stress, focus, weight management, hydration and beauty. Under the terms of the agreement, Manna Tree now holds a significant minority position in the company. Unilever Ventures, an early investor in Plant People, also participated in the Series A round. Products are available through the Plant People website, Amazon, Whole Foods Market, Sprouts Farmers Market, REI, Thrive Market, Grove Collaborative, Erewhon and The Vitamin Shoppe. In October, distribution expanded to more than 820 Target stores nationwide.
Gummy supplement product manufacturer ILS Gummies entered a strategic growth partnership with a group of institutional capital providers led by Edgehill Management, alongside ECP Growth, Patriot Capital and Providence Investment Partners. The partnership is designed to support ILS Gummies as it enters its next stage of growth, focused on scaling operations and supporting long-term customer success. The partnership will enable continued investment in manufacturing capacity, packaging innovation and operational infrastructure at the 130,000-square-foot ILS Gummies facility in McKinney, TX.
Opens in new windowHUL divested its 19.8% stake in Nutritionalab Private Limited (Wellbeing Nutrition) to USV Private Limited for INR 3.07 billion (US$33.9 million), with USV signing a definitive agreement to acquire a total 79% stake as it looks to strengthen its metabolic health portfolio. The divestment signals a shift in HUL’s focus toward other high-growth segments. Concurrently, HUL moved to fully own OZiva, acquiring the remaining 49% stake in Zywie Ventures Private Limited. The company had initially invested in Wellbeing Nutrition as part of its initial entry into the health and wellness category.
Lonza signed an agreement to divest its Capsules & Health Ingredients (CHI) business to Lone Star Funds for an enterprise value of CHF 2.3 billion ($3 billion) at closing. The transaction is expected to close in H2 2026. Lonza will receive upfront proceeds of CHF 1.7 billion ($2.2 billion) and retain a 40% stake in CHI, with an additional preferential participation in a future exit. Total undiscounted proceeds, including upfront and all future proceeds at full exit, are expected to be at or above CHF 3 billion (~$4 billion). With the divestment of CHI, Lonza delivers on its commitment to transform into a pure-play CDMO and plans to invest the upfront proceeds into additional organic growth opportunities in line with the One Lonza Strategy, as well as bolt-on acquisitions. CHF 500 million will be returned to shareholders through a share buyback following receipt of proceeds.
Key takeaways
Investors are backing scalable, differentiated wellness: Capital is flowing to wellness companies with clear paths to expansion, including larger manufacturing footprints, popular delivery formats and more personalized offerings. The focus is increasingly on how products are conveniently delivered in the mass market not just brand names.
Technology and data are becoming value drivers: Investors are backing platforms that use AI and large datasets to accelerate product discovery and innovation.
Strategic portfolio reshaping is accelerating: Large groups are actively divesting non‑core assets and redirecting capital toward higher‑growth areas through acquisitions, minority investments and more focused strategies.
Manufacturing capacity remains highly attractive: Private equity and strategic partners continue to favor businesses with the capacity to scale production, improve efficiency and meet long‑term customer demand.
