Vanterra Capital

UNILEVER TO ACQUIRE GRUNS FOR UNDISCLOSED SUM IN HUGE VMS SPLASH Grüns, one of the best stories in CPG of the last decade has been punctuated with a massive deal to Unilever. The VMS M&A wave is in the early innings! Financial terms weren't disclosed, but given Gruns' disclosed revenue, growth rate, and Unilever's annual stated M&A budget - it was definitely a big one. The Numbers  - Founded: August 2023 by Chad Janis (confirmed a chad)  - $100M ARR: May 2025 (month 21)  - $300M ARR: August 2025 (month 24)  - Last valuation: $500M (April 2025 funding round led by Headline)  - Profitable within 14 months of launch Price undisclosed, but the $500M valuation set the floor 12 months ago. With $300M+ ARR at the time of deal announcement, rough benchmarks: - Huel acquired by Danone for ~3.4x revenue - 2026 - Liquid I.V. / Unilever - ~2.6x revenue - 2020  - Dr. Squatch / Unilever ~3x revenue - 2025 - poppi // PepsiCo ~3x revenue - 2025 Unilever has been making an all in effort into personal care and wellness, with brands like Liquid I.V. & Nutrafol set to pass $1B in sales, UL is putting together a formidable wellness portfolio. Plus, they spent $1.5B on Dr. Squatch last year. Early investors include Sugar Capital, Vanterra Capital, Selva Ventures and more.

The Vanterra Capital team is thrilled to announce the acquisition of Grüns by Unilever. Everything about Chad Janis, the team he built at Grüns, and this outcome is an outlier.   From our very first meeting in early 2024, it was clear that Chad was on the fast track to redefining what it means to be a supplement business. By unlocking the ability to deliver comprehensive blends in a delicious gummy format, Grüns combined clinical efficacy with a brand and format approachable to literally everyone. Lightning in a sachet.   I'm not sure we'll ever see another brand that can publish a double-blind, placebo-controlled clinical study at the same time as launching a Raspberry Lemonade LTO flavor. We all knew it was game over after that.   Being one of the first institutional investors in Grüns reinforces our belief at Vanterra that specialized and high-conviction investing matter. Recognizing category-defining businesses early on takes real focus, and Gruns is exactly the type of company our process is designed to identify and back.   We are deeply grateful to the entire Grüns team for their partnership and performance. https://lnkd.in/eVj4E_TD

Excited to lead Cove Soda's $15M Series A at Vanterra Capital! Cove has quickly become Canada's #1 functional soda brand with its zero-sugar probiotic sodas that taste just like the real thing. Cove is now in 7k+ retail doors across North America and recently partnered with Keurig Dr Pepper Canada to rapidly expand sales and distribution. In the fast-growing modern soda category, Cove delivers the best tasting product in nostalgic flavors like ice pop, blue raspberry, orange cream, and classic cola. Thrilled to partner with John and Ryan Maclellan to bring Cove to millions of more households. You can find Cove at U.S. retailers like Costco, Target, Sprouts, and Whole Foods Market. Vanterra Capital Link: https://lnkd.in/edNPyiYK