LONDON — Venture Life Group, a global consumer healthcare company, announced Monday it has completed the sale of its Ultradex and Dentyl oral care brands to Covestus Holdings Ltd. for an enterprise value of up to 4.5 million pounds ($5.8 million).
The deal includes 100% of the issued share capital of Periproducts Limited. Venture Life said the sale is part of its strategy to divest non-core assets and focus on higher-margin, higher-growth brands.
Under the terms, 3.75 million pounds was paid at closing, subject to customary working capital adjustments. An additional contingent payment of up to 0.75 million pounds may follow based on the brands’ performance over the next 12 months. A transitional services agreement will remain in place until the end of February 2026.
For the year ended Dec. 31, 2024, the sold oral care assets generated revenue of 4.3 million pounds and adjusted earnings before interest, taxes, depreciation and amortization of 0.4 million pounds. The net carrying value of the assets as of Nov. 30 was 4.5 million pounds.
Jerry Randall, CEO of Venture Life, said the divestment allows the company to redirect resources toward its “Power Brands,” including Balance Activ, Health & Her/Him, Lift and Earol.
“These assets no longer form part of our strategic vision for Venture Life,” Randall said. “The divestment allows us to recycle the funds raised into our core focus categories.”
The company said proceeds will support its acquisition strategy and organic growth initiatives. The board cited the sale multiple of about 11 times the brands’ fiscal 2024 adjusted EBITDA as favorable for reinvestment.
Venture Life trades on the AIM market of the London Stock Exchange under the ticker VLG.