25 Jul 2024

PAI Partners (“PAI”), a pre-eminent private equity firm, today announced its agreement to acquire Nutripure, a holistic sport and wellness platform that allows consumers to take better care of their health, from Ardian, a world-leading private investment house. The acquisition will be made through the PAI Mid-Market Fund (“PAI MMF”), PAI’s fund dedicated to mid-market opportunities. Upon completion, PAI will be the majority shareholder with a controlling stake, alongside the founders and Bpifrance.

Created in France in 2017 by Florent and Christophe Carrio, Nutripure is a digital active nutrition brand that provides a comprehensive ecosystem of products and services, including food supplements and sports nutrition, primarily through its own website. Initially designed for top-level athletes, Nutripure now provides almost 40 high-quality products for all consumers across Health & Metabolism, Sports & Endurance, Physical Recovery and Healthy Nutrition. The brand has a scalable and efficient operating model, with internalised R&D, premium ingredient sourcing, digital marketing and distribution.

Since its inception, Nutripure has maintained very strong growth, significantly outperforming the wider active nutrition market, building solid brand awareness and serving over 200,000 clients. The company is strategically positioned to seize growth opportunities in the rapidly expanding market, driven by robust megatrends that are expected to persist in the coming years: an increasing interest in health and exercise, a behavioural shift towards preventive medicine and the growing penetration of e-commerce. PAI’s investment will support Nutripure’s growth trajectory, new product development and innovation, and expand the company’s community in health and sports.

Florent Carrio, co-founder of Nutripure, said: “Christophe and I are very pleased to welcome PAI onboard. This is a significant milestone in our journey and is a testament to the hard work and dedication of our entire team, driving Nutripure towards new heights and making a positive impact in the health and wellness industry. Since founding Nutripure, our mission has been to preserve tomorrow’s health today, for all people willing to activate their potential and take better care of themselves.”

Frédéric Quéru, Managing Director, Growth at Ardian, said: “We would like to thank and congratulate Florent and Christophe for this exceptional journey. In less than three years, Nutripure has more than quadrupled its turnover, while achieving intensive recruitment and strengthening the top management. It has been a great pleasure to work alongside them and the entire Nutripure team, leveraging our cross-vertical expertise in e-commerce and healthcare to support the company’s scaling and sustain its remarkable growth. We wish the founders and PAI all the best for the next phase.”

Stefano Drago, a Founding Partner of PAI Mid-Market Fund, said: “We are excited to partner with Florent and Christophe Carrio to support Nutripure in its next phase of growth, leveraging our Food & Consumer playbook into Healthcare. Nutripure has demonstrated exceptional growth and innovation in the sports nutrition and wellness space, and is well placed to benefit from structural trends revolving around a healthier lifestyle.”

Arnaud Despoisse, Investment Director at Bpifrance said: “Two years after opening its equity to Ardian and Bpifrance, Nutripure has become the lead brand in its market, combining strong values and high-quality products. Bpifrance assisted the company in its internal structuring, allowing it to successfully achieve this skyrocketing development. We are thrilled about continuing the adventure alongside the founders and reinvesting with PAI to make Nutripure a French champion on a European scale.”