Venture Life has announced the disposal of its contract development and manufacturing organisation (CDMO) along with some non-core brands. The acquiror, Italian-based BioDue, will pay €62m (c£53m), indicating an EV/Sales multiple of 2.6x, which we believe represents excellent value for Venture Life. Post-sale, Venture Life will become a focused pure play consumer health business, which we expect to deliver revenues of c£43m and EBITDA of c£7.7m in FY25, before re-deployment of proceeds into new ....
