M&A Deal Summary

Catalent Acquires Bettera Brands

On August 30, 2021, Catalent acquired food company Bettera Brands from Highlander Partners for 1.0B USD

Acquisition Highlights
  • This is Catalent’s 1st transaction in the Food sector.
  • This is Catalent’s 2nd largest (disclosed) transaction.
  • This is Catalent’s 8th transaction in the United States.
  • This is Catalent’s 1st transaction in Texas.

M&A Deal Summary
Date 2021-08-30
Target Bettera Brands
Sector Food
Buyer(s) Catalent
Sellers(s) Highlander Partners
Deal Type Add-on Acquisition
Deal Value 1.0B USD

Target

Bettera Brands

Plano, Texas, United States
Bettera Brands operates as a holding company for Bettera Wellness, Nutravail, and Hillside, which focus on using confection products as an alternative delivery systems for vitamins, minerals and supplements. Bettera Wellness is a manufacturer of branded and private label gummy vitamins and better-for-you gummy confection products. Bettera operates two fully integrated production facilities located in Indiana and California that are SQF Level 3 and CFR 111 certified for dietary supplements. Nutravail, operating from a CFR 111 facility in Chantilly, Virginia, is a leading developer and manufacturer of health and wellness food products that manufactures proprietary soft chew delivery systems with its low-temperature processing technology. Hillside is a manufacturer of organic, sugar-free, and branded confection products (through its GoOrganic brand), as well as incorporating nutraceutical ingredients into lozenge delivery systems. Bettera Brands was formed in 1898 and is based in Plano, Texas.

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Buyer(S) 1

Buyer

Catalent

Somerset, New Jersey, United States
Category Company
Founded 2007
Sector Life Science
Revenue 4.3B USD (2023)
DESCRIPTION

Catalent is a provider of solutions for drugs, biologics and consumer health products. Among its core offerings, it develops and manufactures oral and sterile medication in nearly all dosage forms, holds patents for softgel (e.g. “Liqui-Caps” and “Vegicaps”) and Zydis fast-dissolve technologies used in many popular prescription and over-the-counter medicine. Catalent was founded in 2007 and is based in Somerset, New Jersey.

DEAL STATS #
Overall 15 of 16
Sector (Food) 1 of 1
Type (Add-on Acquisition) 10 of 10
State (Texas) 1 of 1
Country (United States) 8 of 9
Year (2021) 3 of 3
Size (of disclosed) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-31 Woodstock

Woodstock, Illinois, United States

Woodstock is an operator of BFS sterile contract development and manufacturing organization (CDMO) that operates out of a single site in Woodstock, Illinois, focusing on complex clinical to commercial-stage formulation and manufacturing. The Company supports a global, blue-chip customer base with a broad array of products that leverage its BFS sterile manufacturing capabilities and formulation competency in complex chemistries, including small molecule, biologics, macromolecules, and potent compounds. Woodstock is based in Woodstock, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-09 Metrics Contract Services

Greenville, North Carolina, United States

Metrics Contract Services is a full-service pharmaceutical development and manufacturing organization serving clients worldwide delivering proven scientific and operational excellence for novel oral dosage forms. Metrics provides formulation development, analytical testing, and commercial manufacturing from its single-campus facility in Greenville, North Carolina.

Buy $475M

Seller(S) 1

SELLER

Highlander Partners

Dallas, Texas, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2004
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Highlander Partners LP is a private equity firm focuses on making both direct private equity and mezzanine investments in companies located in US and Europe. The firm seeks to target to invest in small and mid-size private companies with strong management teams, fundamentally strong operations and positive cash flows. HP looks to invest $10 to $50 million as an equity and $10 to $25 million in mezzanine financing in companies with revenues of $10 to $500 million and enterprise value up to $100 million. Specific areas of interest include manufacturing, food, healthcare products and services, and healthcare IT, retail and building materials. Types of transaction include buyouts, growth capital, divestitures, consolidation and recapitalization. Highlander Partners LP was formed in 2004 and is based in Dallas, Texas with additional office in Warszawa, Poland.

DEAL STATS #
Overall 23 of 29
Sector (Food) 4 of 5
Type (Add-on Acquisition) 15 of 19
State (Texas) 6 of 7
Country (United States) 18 of 21
Year (2021) 4 of 4
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-17 SignalPath

Raleigh, North Carolina, United States

SignalPath developes the SignalPath platform, a clinical trial management system (CTMS) that improves the ease, quality and efficiency of conducting clinical research at study sites. SignalPath was founded in 2014 and is based in Raleigh, North Carolina.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-08 RMS Beauty

Charleston, South Carolina, United States

RMS Beauty is a provider of beauty based products. RMS Beauty was founded in 2009 and is based in Charleston, South Carolina.

Buy -
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