Aqua Capital announces the full sale of Puravida
to Nestlé Health Science
Agribusiness Latin America Management LLC (“Aqua Capital”), as general partner of Agribusiness Latin
America Fund II LP and its parallel funds (the “Funds”), is delighted to announce that it has entered into a binding agreement for the sale of 100% of the shares of the Funds’ portfolio company Agro Power
Participações S.A. (“Puravida” or “the Company”) to Nestlé Health Science, Nestlé’s health and wellness
Through its tenure as controlling shareholder of Puravida, Aqua Capital has proven its ability to
substantially create value within a short period of time, rapidly scaling up the Company’s sales, structuring its team and processes, and transforming it into a best-in-class player in its segment. This was reflected in the Company’s financial performance: since the Funds’ acquisition in August 2020, Puravida’s sales grew +250%, while maintaining solid Ebitda margins of +20%, despite ongoing economic volatility caused by the pandemic.
Aqua Capital assertively implemented its PGTI approach (Professionalize, Grow, Transform and Impact), to create value, including:
- Professionalizing the Company by hiring a top-notch C-level team and creating an outstanding
- Unlocking several growth levers through data-driven strategic decisions, substantially expanding
Puravida’s client and point of sale base;
- Acquiring and integrating two transformational add-ons acquisitions (Tradal Brazil and PV
Lifestyle), that vertically integrated the company’s operation and boosted customer awareness
through online content; and
- Implementing an impact agenda, structuring a professional ESG+I area, setting up the Company
to be a B-certified corporation in 2023.
This great outcome reinforces Aqua’s initial top-down thesis on health and wellness trends, further
accelerated by increasing health awareness brought by the pandemic. The global health and wellness food sector is poised to reach a size of US$ 1.1 trillion by 2027.
The closing of the transaction is subject to the approval of the Brazilian anti-trust authority (CADE), among other conditions precedent, and is expected to take place within 90 days from the date hereof. The transaction consists of a full cash-out agreement, with 70% of the equity value to be received upon closing, and the remainder 30% to be received in the next 3 years, adjusted based on formulas linked to the Company’s net revenue and Ebitda of the respective years.
Founded in 2016 and headquartered in Brazil, Puravida is a health and wellness digital-native vertically-integrated brand that was born with the mission of bringing health through nutrition. The Company provides a wide range of healthy products, from supplements to superfoods and healthy snacks, with few and easy-to-recognize natural ingredients and a strong lifestyle-focused branding concept. Additionally, it has an omnichannel sales strategy, reaching its customers either via its proprietary e-commerce platform or the main natural and premium retailers in the country.
The Aqua Capital team