The Better Being Co., which sells vitamins and supplements under the Solaray, KAL, and other brands, filed on Tuesday with the SEC to raise up to $100 million. The company may raise more, and existing shareholders plan to sell a portion of the offering.
On file as Nutrition Topco and doing business as Nutraceutical International, the company plans to change its name to The Better Being Co. prior to the IPO. Nutraceutical had been listed until May 2017, when the company was acquired by private equity firm HGGC for $446 million including debt.
The vertically integrated company manufactures and sells nutritional vitamins and supplements, beauty products, and other natural products under numerous brands, including Solaray, KAL, Zhou Nutrition, Nu U, Heritage Store, Zand, and Life Flo. The company sells both online and through natural and specialty retailers.
The Salt Lake City, UT-based company was founded in 1993, though its brands trace their roots as far back as 1932. Better Being Co. booked $344 million in sales for the 12 months ended March 31, 2021. It plans to list on the NYSE under the symbol BBCO. It filed confidentially on April 19, 2021. Goldman Sachs, Credit Suisse, Jefferies, Deutsche Bank, Piper Sandler, and Guggenheim Securities are the joint bookrunners on the deal. No pricing terms were disclosed.
