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Permira seals C$751m health food deal

The firm will acquire Canadian nutrition company Atrium Innovations.

UK-based buyout firm Permira will buy Canadian health and nutrition company Atrium Innovations for about C$751 million ($706 million, €521 million), according to a statement.

Atrium operates about 11 brands including Netherlands-based nutritional health company Orthica and Nutri-Health Supplements, which produce natural food supplements, according to Atrium’s website. 

Permira is investing in the company using capital from its fifth fund, which is in market targeting between €4 billion and €5 billion.

The firm will hold a 75 percent stake in Atrium, which is publicly listed on the Toronto Stock Exchange, while existing shareholders Fonds de solidarité FTW and Caisse de dépôt et placement du Québec will each hold 12.5 percent stakes.

Atrium marks Permira’s first investment in a nutrition product maker for humans, though the firm has invested in animal food products before. Atrium is Permira’s third investment from Fund V.

Earlier this year, Permira acquired R Griggs Group, the parent company of British footwear brand Dr Martens for £300 million. Fund V’s second investment was UK wealth management firm Bestinvest, according to a Permira spokesperson.

Permira began marketing Fund V in September 2011 and has until April 2014 to reach its target. Fund V’s initial target was closer to €6 billion.

Permira was founded in 1985 and had advised funds with total committed capital of €22 billion as of October. Based in London, the firm is led by 25 executives.