By Abigail Summerville
NEW YORK (Reuters) - MaryRuth Organics LLC is exploring options including a sale that could value the maker of health supplements at nearly $1 billion, including debt, according to people familiar with the matter.
The Los Angeles-based wellness brand has tapped boutique advisory firms Houlihan Lokey (NYSE:HLI) and Mally Collective to advise on its discussions with potential acquirers, including private equity firms and strategic buyers, the sources said, requesting anonymity as the discussions are confidential.
MaryRuth, which makes vegan & non-GMO vitamins, minerals, and supplements, is expecting to generate earnings before interest, taxes, depreciation and amortization (EBITDA) of about $50 million on revenue of more than $250 million in 2023, the sources said.
MaryRuth and Houlihan Lokey did not immediately respond to requests for comment. Mally Collective declined to comment, while Butterfly could not be reached for comment.
Nutrition consultant MaryRuth Ghiyam founded the company in 2014 with her mother, Colleen, and holds a majority stake in the business. The company recently added internet investor and entrepreneur Gary Vaynerchuk to its board of directors.
Los Angeles-based private equity firm Butterfly Equity, which manages nearly $4 billion of assets and focuses on the food & beverage industry, invested in MaryRuth in 2021.
MaryRuth, known for its liquid vitamins, also makes marine-sourced gummies and chewable health products across multiple categories, including multi-vitamins, probiotics, herbal, and plant-based supplements.
The company sells its products through its own website and on Amazon.com (NASDAQ:AMZN), and at brick-and-mortar retailers, including Amazon-owned Whole Foods Market.