Yellow Wood Partners to Acquire Nestlé's Mainstream Vitamins and Supplements Brands for $1 Billion

Yellow Wood Partners has agreed to acquire Nestlé's Holistic Health platform, a group of vitamins, minerals, and supplements brands, for $1 billion in a deal expected to close in the first half of 2027, pending regulatory approval.¹

The transaction includes Nature's Bounty, described in the announcement as the second-largest vitamins, minerals, and supplements brand overall and the leading women's health brand in the United States, alongside the hydration brand Nuun, joint health brand Osteo Bi-Flex, and Gard.¹

"Holistic Health is an excellent platform of trusted brands with deep retailer relationships providing significant opportunities for continued growth," said Dana Schmaltz, a partner at Yellow Wood. For manufacturers and category watchers, the deal is the latest signal that large strategic owners are narrowing their supplement portfolios to fewer, higher-margin lines, while private equity firms with consumer-brand operating experience step in to run the rest.

What Brands Are Included in the Deal, and What Is Nestlé Keeping?

Yellow Wood's own announcement names 4 brands changing hands: Nature's Bounty, Nuun, Osteo Bi-Flex, and Gard. The announcement does not address the status of other brands in Nestlé's broader vitamins, minerals, and supplements portfolio, including Solgar and Pure Encapsulations, leaving open whether the transaction affects any of Nestlé's other supplement holdings beyond the 4 named brands.

Why Is Nestlé Divesting Its Mainstream Vitamins Business?

The sale follows a strategic portfolio review and continues a broader shift in how Nestlé approaches the category. In 2021, Nestlé paid $5.75 billion to acquire the core brands of The Bountiful Company, which included Nature's Bounty alongside Solgar, Puritan's Pride, and other lines.² Selling a subset of that same portfolio back out 5 years later could potentially suggest a company reassessing which supplement brands it wants to own directly versus operate through a private equity partner, though Nestlé's own public statements do not disclose the specific strategic rationale behind which brands were included in this sale.

What Does This Deal Signal About the Broader Vitamins and Supplements M&A Market?

Deal activity in the vitamins, minerals, and supplements sector has increased year over year, with strategic acquirers accounting for the majority of transactions and financial sponsor activity, private equity deals like this one, rebounding more sharply after a slower stretch, according to a recent industry M&A report.³

That same report identifies women's health, including menopause and prenatal and postnatal products, as an area of particular strategic interest, which lines up with Nature's Bounty's positioning as a leading women's health brand in this transaction.³ Valuation multiples in the sector have moderated from pandemic-era peaks, suggesting buyers are pricing these deals more conservatively than in prior years.³

What Are the Open Questions and Limitations of This Deal?

The transaction remains subject to regulatory approval and is not expected to close until the first half of 2027, leaving roughly a year in which deal terms, brand scope, or valuation could still shift. Neither company's public statements disclose the Holistic Health portfolio's recent sales or profitability, information manufacturers and competitors would need to fully assess the deal's scale.

References

1. Yellow Wood Partners agrees to acquire Nestlé's Holistic Health platform of leading vitamins, minerals and supplements brands. PR Newswire. September 1, 2026. Accessed September 2, 2026. https://www.prnewswire.com/news-releases/yellow-wood-partners-agrees-to-acquire-nestles-holistic-health-platform-of-leading-vitamins-minerals-and-supplements-brands-302866603.html

2. Nestlé completes acquisition of The Bountiful Company core brands. Nestlé. August 9, 2021. Accessed September 2, 2026. https://www.nestlehealthscience.com/newsroom/press-releases/nestle-completes-acquisition-of-the-bountiful-company-core-brands

3. Vitamins & Supplements M&A Update- June 2026. Capstone Partners. June 17, 2026. Accessed September 2, 2026. https://www.capstonepartners.com/insights/report-vitamins-supplements-ma-update/