Vitamin maker MaryRuth Organics explores sale-sources

Houlihan Lokey

30/08/2023 11:00

By Abigail Summerville
       NEW YORK, Aug 30 (Reuters) - MaryRuth Organics LLC is
exploring options including a sale that could value the maker of
health supplements at nearly $1 billion, including debt,
according to people familiar with the matter.
    The Los Angeles-based wellness brand has tapped boutique
advisory firms Houlihan Lokey and Mally Collective to advise on
its discussions with potential acquirers, including private
equity firms and strategic buyers, the sources said, requesting
anonymity as the discussions are confidential. 
    MaryRuth, which makes vegan & non-GMO vitamins, minerals,
and supplements, is expecting to generate earnings before
interest, taxes, depreciation and amortization (EBITDA) of about
$50 million on revenue of more than $250 million in 2023, the
sources said.
    MaryRuth and Houlihan Lokey did not immediately respond to
requests for comment. Mally Collective declined to comment,
while Butterfly could not be reached for comment.  
    Nutrition consultant MaryRuth Ghiyam founded the company in
2014 with her mother, Colleen, and holds a majority stake in the
business. The company recently added internet investor and
entrepreneur Gary Vaynerchuk to its board of directors. 
    Los Angeles-based private equity firm Butterfly Equity,
which manages nearly $4 billion of assets and focuses on the
food & beverage industry, invested in MaryRuth in 2021.
    MaryRuth, known for its liquid vitamins, also makes
marine-sourced gummies and chewable health products across
multiple categories, including multi-vitamins, probiotics,
herbal, and plant-based supplements. 
    The company sells its products through its own website and
on Amazon.com, and at brick-and-mortar retailers, including
Amazon-owned Whole Foods Market. 

 (Reporting by Abigail Summerville in New York; Editing by
Anirban Sen and Lincoln Feast.)
 ((abigail.summerville@thomsonreuters.com;))