Investment fund for health and fitness businesses launched
Maximuscle founder offering £150m investment fund
The founder of Maximuscle, the UK's largest sports nutrition brand, has launched a £150m investment fund for health and fitness businesses, following completion of a £162m Maximuscle exit.
Started in 1995 by sports nutrition expert and former bodybuilder Zef Eisenberg, Maximuscle, was bought in December last year by healthcare company GlaxoSmithKline (GSK), for a reported £162m.
Following the sale of his sports nutrition business, Eisenberg has set-up a £150m investment fund called ‘Maxicorp' to invest in health and fitness businesses in a bid to shake-up the “mature and saturated market” in the UK.
According to Eisenberg, the funding corporation has been investigating business plans from three entrepreneurs and the fund is looking to invest in health food brands, nutritional supplements and gym chains. “The businesses will have a health and wellness angle to it. I'm not interested in confectionary,” he said. Maxicorp will insist on a board seat in each investment, said Eisenberg. “My whole remit is to be fairly hands on. We won't make any investment unless I'm able to help manage and provide the expertise that I have.
“We're looking at deals at the moment that are as small as £1m, but that would be with the requirement for follow-on money. We'll also go up to as much as £150m by doing joint ventures with other funds and partners. If I find an opportunity, the size isn't relevant. For the right business, I'll easily find the right partners to work with.”
The new fund will target deals across an unusually broad range, although it won't invest in start-ups. The fund also looks to back growing chains targeting emerging markets in Eastern Europe and Asia.
© Crimson Business. Ltd 2011