The founder of protein water company Vieve has put his company up for sale after eight years at the helm.
The “low seven-figures” revenue business has been EBITDA profitable for the past five years, and has continued to grow at around 40% CAGR.
Stocked in over 2,000 stores, including across Holland & Barrett, Vieve’s protein water is also the fastest seller in its category on Amazon.
But founder Rafael Rozenson announced last week he wanted to sell the business so it could grow faster and further with a full team.
“The business is in a good place, but it feels like the right time for someone else to take it to the next level,” he wrote on LinkedIn.
“Building a business for a decade takes a lot out of you – and I think I’ve reached the point where I want to step back and put my energy into a different chapter.”
Rozenson told The Grocer he had since had interest from more than ten potential bidders.
“To really take Vieve to the next level, it needs either a lot of investment, a team, or a big strategic partner. As a food and drink business, once you get to seven figures, you need one of those to push you to that £5m-£10m mark,” he said.
“I can’t keep remortgaging my house – so it would be outside investment, which would mean staying in the business for another five or 10 years. Or I can get a partner on board who can take Vieve to that level?”
Rozenson added that after eight all-consuming years running the business alone, he would like to explore other facets of his life.
“It’s been quite an up and down journey, but it can be quite lonely. For the sake of my mental health, I’d like to focus on other projects and interests – I’m ready for the next chapter in my life.”
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