Cardiff-based female health brand Health & Her has acquired in a deal that could be worth up to £10m. The company, whose products support menstrual, perimenopause and menopause change, has been acquired by Alternative Investment Market-listed Venture Life Group, which operates in the international self-care market.
The deal consists of a £7.5m cash payment to Health and Her (H&H) founders, Kate Bache and Gervase Fay and other shareholders who include the Development Bank of Wales. A further £700,000 will be payable 12 months post deal completion, dependent upon the founders remaining with the business for at least a year. The deal could also see an additional £1.8m cash payment contingent upon H&H achieving expected trading results for the 12 months post completion.
Established in 2018, H&H is predominantly focused on female health - specifically the transitional elements of hormone health, providing supplements and digital support for the female hormonal health journey. Whilst their menopause and peri-menopause products currently constitute the majority of the revenues, it will shortly be launching new products in the female hormonal health sector , as well as those aimed at male hormonal health. The business has seen significant export growth in the US, China and more recently the United Arab Emirates. In the Ƶ its products are sold through retailers such as Holland & Barrett, Boots and Superdrug, as well as online.
The global menopause market was estimated at $16bn in 2023 (research by Grand View Research), but Forbes Magazine estimates it to rise to $600bn by 2030, demonstrating substantial market growth over the next seven year.
Venture Life said there are significant opportunities to leverage the Cardiff firm’s products across its extensive distribution network in the Ƶ and internationally.
For its last financial year to the end of May this year, H&H generated revenues of £6.1m, with a loss before tax of £400,000. The board of Venture Life believes that the historic profitability of the business was significantly impacted by costs invested to build awareness of the brand and developing technology solutions to reach its consumers.
Jerry Randall, chief of Venture Life Group, said: “We are delighted to have acquired H&H, an exciting and dynamic business in the innovative area of supporting hormone change in men and women through all life stages. The business has been well invested in its growth and development, and we will be able to leverage all these assets going forward. Recent new launches into the US retail market and a deep pipeline of new products are expected to deliver meaningful growth in the short to medium term.
“We are very pleased also that the dynamic and innovative founders, Kate Bache and Gervase Fay, will be staying with us to continue the H&H journey and growth. Hormone change is an area poorly understood by the consumer, but with tools such as the H&H app and specifically designed food supplements consumers can access significant education and support for these changes. Becoming part of the Venture Life Group will allow the considerable resources of the group to be applied to continue to drive the growth of the business, expanding its reach and generating meaningful synergies with our current portfolio and operations.” The founders of H&H said in a joint statement: “We are thrilled by the acquisition of H&H by Venture Life Group. Their success and momentum in the self-care space, combined with their extensive retail and market reach, promise to further our mission to support the lives of millions of people around the world with the life-affecting impact of hormone change. Joining the group opens up extensive opportunities for synergies - particularly within the female health category alongside the Venture Life’s brand Balance Activ. We’re confident that our combined strengths will bring significant value to our customers and key stakeholders as we embark on this exciting new chapter. I am immensely grateful to our loyal customers, dedicated team, and investors, whose support has been pivotal to our success to date.”
