A busy first quarter for supplement M&A
NutraIngredients published its Q1 2026 sector roundup for supplements and sports nutrition on March 31 — and the quarter was active. Between Create Wellness' fundraise, Lonza's major divestiture, HUL's acquisition of OZiva, and Metagenics acquiring Symprove, Q1 2026 gives a clear picture of where major sector players are positioning their capital.
Here's an analysis of the deals that matter and what they collectively signal about market direction.
Create Wellness: creatine gummies enter a new category
The most publicized deal of the quarter in the mainstream sports nutrition segment is Create Wellness' $20 million Series B, closed in late March 2026 with Alliance Consumer Growth and Impact Capital.
What makes this deal significant isn't the amount — $20M is a standard Series B in consumer health. It's the segment it validates. Create Wellness invented the gummy format for creatine, an ingredient that had been synonymous with tasteless white powder. With 250 million gummies sold and national distribution at Target, The Vitamin Shoppe, and Sprouts, the brand has demonstrated that an alternative format can capture significant share of an established market.
The implication for other sector players: the battle of the next decade in supplements may not be about ingredient innovation (creatine, protein, BCAAs are well established) but about format innovation. Consumers want products that are enjoyable to take, not just effective. The creatine market's projected growth to $4.2B by 2030 — driven in large part by new consumer segments — makes Create Wellness' timing look well-calculated.
Lonza/CHI: a divestiture that reshapes manufacturing
The most impactful deal for the B2B supplements industry is probably Lonza's divestiture of its Capsules & Health Ingredients (CHI) division to private equity firm Lone Star Funds for CHF 2.3 billion (~$3 billion). The transaction is expected to close in the second half of 2026.
Lonza CHI is one of the world's largest capsule and ingredient manufacturers for the global supplements industry. Its divestiture means this business will change hands and likely change strategy under Lone Star — a PE firm specialized in operational transformations.
For supplement brands that source their capsules and some active ingredients from Lonza CHI, this transaction creates uncertainty around pricing, availability, and contract terms in the medium term. It's a signal for supply chain teams to diversify suppliers or secure existing contracts before the transition.
OZiva: clean-label women's supplements at $90M
Hindustan Unilever — one of the largest consumer goods companies in India and emerging markets — announced a full acquisition of OZiva, an Indian clean-label supplement brand targeting primarily women, for approximately $90 million.
OZiva is positioned in high-growth segments in emerging markets: vitamins and minerals, protein nutrition, hair health, women's supplementation. The brand built its reputation on 'clean' formulations — no artificial additives, transparency certifications — in a market where consumer trust is a major competitive factor.
What this deal says: FMCG giants see precision women's nutrition as a strategic growth vector in emerging markets. At $90M for a brand operating primarily in India, that's a multiple reflecting significant growth expectations for this segment — consistent with the broader pattern of functional nutrition consolidation playing out across Q1 2026.
Metagenics acquires Symprove: probiotics going upmarket
Metagenics, backed by PE firm Gryphon Investors, acquired Symprove, a UK-based liquid probiotic brand with strong clinical reputation in the UK and Northern European markets. Symprove is particularly known for its clinical studies in gastroenterology — data that justifies premium positioning that competitors without equivalent evidence can't easily attack.
This deal reflects a trend in the probiotic segment: brands with robust clinical data are premium assets in a market where differentiation is difficult. The commoditization of generic probiotics is creating a bifurcation — low-cost undifferentiated products on one side, clinically-backed brands justifying 3-5x higher prices on the other.
The common read: where capital is going
Taken together, these Q1 2026 deals outline three interest zones for supplement investors:
Format innovation for established ingredients (creatine gummies, liquid vs. capsule probiotics). Clinical science that differentiates in commoditized categories (Symprove with its gastro studies). And precision women's nutrition in emerging markets (OZiva with strong growth potential).
This isn't a revolution — it's a clarification. The supplements sector is reaching maturity in developed markets. Future growth comes from format innovation, underserved niches, and emerging markets. That's where acquisition multiples are still attractive.