Vendis Capital seals €290m Sylphar sale to EQT’s Karo Pharma

Vendis Capital has sealed a €290m sale of Belgian teeth, mouth and skincare products business Sylphar to EQT portfolio business Karo Pharma.

The private equity house bought Sylphar in 2017 from Concordia. The company was formed in 2007 by company CEO Robin List, who remains an investor.

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Sylphar’s brands include Nutravita, Alpha Foods, Remescar and iWhite.

Vendis said that since its investment Sylphar had expanded its digital presence, its category of products and its geographic footprint.

Bolt-on acquisitions included Nutravita in 2018 and Alpha Foods in 2020.

EQT bought Sweden’s Karo Pharma two years ago in a $694m deal. The business develops and markets products for pharmacies and other areas of the healthcare sector.

Source: Alt Assets

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