CVC set to splash the cash on German vitamin maker: reports
Private equity giant CVC is set for a near-billion-euro deal to take over a German vitamin manufacturer, according to reports.
Sources told Bloomberg that a €900m (£774m) deal to acquire Sunday Natural could be announced in the coming days.
Neither party responded to comment requests from Bloomberg.
Dealmakers are hoping for an uptick in M&A activity this year, with many sitting on significant dry powder and companies facing a cash crunch thanks to higher interest rates.
“In private equity, high interest rates are driving cash-strapped companies to seek more equity financing, while low transaction volumes are creating attractive situations for buyers in the secondary market,” asset management giant Blackrock said at the turn of the year in its private markets outlook for 2024.
The Berlin-based maker of vitamin supplements and other healthcare goods was reportedly seeking a buyer in the range of around €600-800m at the beginning of 2023.