Be Levels Explores Sale at €350M Valuation

Spanish wellness innovator Be Levels is reportedly exploring a significant strategic transaction, aiming for a valuation of approximately €350 million. The company, a prominent player in the premium dietary supplements market, has engaged financial advisory firm Lazard to identify a new investor. This move is designed to fuel accelerated growth and facilitate international expansion, according to market sources.

The potential deal also signals a transition for Axon Partners, which currently holds a 17% stake acquired in 2024. While the specifics are still developing, the incoming partner could secure a controlling interest in Be Levels. Importantly, the founding team and executive leadership are expected to remain actively involved, both as shareholders and in steering the company's operations through its next phase.

Be Levels has demonstrated impressive financial performance, generating over €50 million in annual revenue and projecting an EBITDA close to €20 million. This robust financial profile underpins the substantial valuation target. Industry benchmarks in the health and wellness supplement sector have seen multiples reaching up to 20 times EBITDA, suggesting a strong appetite for well-positioned companies in this space.

Founded in Madrid in May 2020, Be Levels has rapidly carved out a niche by focusing on natural ingredient formulations and a subscription-based revenue model. This approach provides predictable income streams and aligns with the growing global consumer demand for products supporting physical well-being, health, and longevity. The company's success is further amplified by a network of approximately 3,000 healthcare professionals who recommend its offerings.

The broader European market for dietary supplements is experiencing substantial expansion, projected to grow from €50 billion to €80 billion by 2033, at a compound annual growth rate of 6.5%. This favorable market dynamic is attracting significant private equity interest. Recent transactions include Nazca Capital's majority acquisition of Aldous Bio, Magnum Capital's control of Marnys, and Seaya's 70% stake in Baïa Food. Additionally, ProA invested in Adventia Pharma, and Nazca Capital, advised by Houlihan Lokey, is expected to initiate the sale process for Nutris shortly.

The leadership team at Be Levels, comprising co-CEOs Jon Prada and Javier Echanove, alongside Chief Medical Officer Antonio Hernández, has successfully navigated the company through its formative years. Their continued involvement is a key element in the ongoing strategic discussions, ensuring continuity and leveraging their deep understanding of the market and product development.