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In December 2022, Waldemar Pilch, in partnership with Novastone Capital Advisors, acquired Formeds, a leading Polish premium brand of clean-label vitamins, minerals, and dietary supplements. Among the SF investors who participated in the acquisition were SFClub, Novadvice, and Cloudbreak. In less than 30 months, they sold their 77% stake in the company to Enterprise Investors, one of the largest private equity firms in Central and Eastern Europe, achieving a strong return (MOIC>3x & IRR >50%). Waldemar will remain as CEO and co-owner of Formeds. The value of the transaction, which requires antimonopoly approval, was not disclosed.
Founded in 2012, Formeds has established a strong position in the competitive supplements market with its clean-label formulations (free from preservatives, artificial additives, and fillers) meeting rising consumer demand for purity and quality. With a portfolio of over 160 products addressing key health areas such as immunity, beauty, and cardiovascular support, and a leading presence in Poland’s e-commerce space, Formeds is well positioned to benefit from global wellness trends. Operating its own production facility near Poznań, the company ensures strict quality control and product testing. This focus on excellence has driven robust growth, with projected revenues of €15M, which represents a 46% year-over-year increase.
“Formeds was built with a singular vision: to provide consumers with the purest, most effective supplements possible,” said Waldemar Pilch. “Partnership with Enterprise Investors gives us the resources to accelerate our growth while maintaining core values. We have significant room for expansion, both in developing new products addressing multiple health needs and introducing new delivery forms including liquids, gummies and droplets.”
“Formeds’ in-house product development capabilities and loyal customer base make it an attractive investment,” said Michał Kędzia, Partner at Enterprise Investors. “We see strong potential for sustained growth. Importantly, Mr. Waldemar Pilch remains deeply involved in its strategic development, ensuring continuity and leveraging his expertise to drive future success. We look forward to supporting Formeds in the next chapter of its accelerated growth.”
Legal (Vendor): MFW Fiałek
