ASV Insights – Top 10 Deals of 2023: $425M Acquisition of Menopause CPG Company

This week we explore the acquisition of Bonafide Health, a significant deal in the Menopause space. This strategic move marks a pivotal shift, bringing much-needed attention to an often overlooked area of women’s health.

ASV Insights presents the Top 10 Deals of 2023 where we will look at how recent major successes reflect the latest trends in women’s health and sexual health.

This week we explore a significant acquisition in the menopause space, an area of healthcare that has yet to identify a clear leader. This strategic move marks a pivotal shift, bringing much-needed attention to an often overlooked domain of women’s health. 

Pharmavite LLC, a company specializing in nutrition-based wellness and producer of Nature Made® vitamins, has officially acquired Bonafide Health for $425M. Bonafide Health is a CPG menopause brand selling non-hormonal solutions to help women manage their menopause journey. This strategic move reflects Pharmavite's ongoing commitment to promoting health for all, with a particular focus on historically underserved categories.

The acquisition of Bonafide Health expands Pharmavite’s existing women's health portfolio, which includes Uqora, a UTI medication brand, and Equelle, a natural supplement that alleviates symptoms associated with estrogen decline.

Founded in 2017, Bonafide Health set out to pioneer a new category of over-the-counter women's health products. Bonafide Health offers six key products that are designed to address menopause symptoms such as hot flashes, vaginal dryness, changes in the vaginal microbiome, sexual satisfaction, and more.

Generally, Amboy Street sees that menopause CPG companies are struggling to move on mainstream retail shelves, however, companies like Bonafide found success by selling direct to consumer and through OBGYN clinics.

For years, conversations about menopause were scarce, leaving women to navigate this natural transition on their own. Now menopause has officially gone mainstream. Women are increasingly vocal about their experiences, widening the conversation and smashing the taboos associated with this natural phase of life. This reformation opens up demand and leaves room for startups to quickly grow to meet it. This is an excellent time to invest in the future winners in this space.

Below are some CPG companies with product lines targeting Menopause symptoms.

Gennev - Acquired - Gennev is a former Amboy Street portfolio companies that has a suite of CPG products to address menopause symptoms. Gennev also offers telehealth solutions.

 

Kindra - Seed - Kindra provides novel solutions for healthy aging, sexual/vaginal health, and menopause. Their line of products, which include vaginal hydration creams, vaginal washes, vaginal serums, and menopause supplements, offer clinically effective and non-hormonal symptom relief.

Womeness - Seed - Womensses offers expertly formulated products to meet the needs of changing bodies with clinically and doctor tested supplements and education. Womeness can be found both D2C and in retail, specifically in Ulta and Target.

Stripes- Pre Seed. Stripes offers products that help consumers age gracefully and comfortably with a focus on menopause. Stripes is creating a place where people can find holistic solutions that soothe their body and mind, no matter where they are in their menopause journey. They offer everything from skincare to haircare to vaginal wellness products and supplements.

This acquisition proves appetite and emphasizes the growing need for innovation in this space. We are excited to watch it grow!

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