Approved · Waiver · decided in 26 days, 14 Aug 2026
UnclassifiedWA-05040ACCC register
Cinven-backed Vital Bidco AB and/or Vital Holdco AB proposes to acquire 100% of the issued share capital of EMPWR Nutrition Group NV. This share sale involves a private equity-controlled functional food and beverage group acquiring a global developer and contract manufacturer of functional snack bars, currently majority owned by Waterland Private Equity Investments B.V. funds.
Vital Bidco AB and/or Vital Holdco AB (together, Vital ) propose to acquire 100% of the issued share capital of EMPWR Nutrition Group NV ( EMPWR ) (the Acquisition ). Vital HoldCo AB and its subsidiaries (which includes the acquirer, Vital Bidco AB) ( Vitamin Well Group ) are indirectly solely controlled by Cinven Limited via the Eighth Cinven Fund ( Cinven ). Cinven is a private equity firm engaged in the provision of investment management and investment advisory services to several investment funds. The controlled companies in the Cinven funds’ portfolio of investments are active in a wide range of sectors including business services, consumer, financial services, healthcare, industrials and technology, media and telecommunications. The Cinven funds’ portfolio of investments includes Vitamin Well Group and Barentz. Vitamin Well Group is a Swedish functional food and beverage company that develops and sells functional food and beverages, primarily through its three core brands: Vitamin Well (vitamin and mineral-enriched drinks), NOCCO (functional drinks) and Barebells (protein bars and protein drinks). Barentz is a Netherlands headquartered company that is a global specialty ingredients solution provider specialising in human nutrition, pharmaceuticals, personal care, performance materials and animal nutrition. Barentz is a supplier and distributor of raw materials and specialty ingredients. EMPWR is a Belgium headquartered company who is globally active as a developer and contract manufacturer of functional snack bars, including protein bars, uncoated dough bars, granola bars, crisp bars, nut bars, and fruit bars at the business-to-business level for brand-owners and retailers mainly across Europe and North America. EMPWR co-designs, develops, and manufactures bars on a private-label basis at its production sites in Croatia, the Netherlands, Canada and the United States. EMPWR is currently majority owned by WPEF VI Holdco I BE B.V. and is indirectly held by funds managed by Waterland Private Equity Investments B.V. ( Waterland ). Waterland is a Dutch private equity investment company.