GP Bullhound acted as exclusive financial advisor to NutraTech Ltd (“Nutracheck”) on its acquisition by Immediate Media Ltd (“Immediate”).

Nutracheck is the UK’s leading weight management platform, offering nutrient tracking services online and through its mobile application, Calorie Counter+. It has a proprietary food database with over 350,000 products with photo and bar code search. Nutracheck is an active community of hundreds of thousands paying subscribers who trade tips, ideas, and motivational notes. It integrates with an ecosystem of connected devices (Fitbit, Apple, and Samsung Watch) and apps (Strava, Apple Health) to exchange data and track calorie burning.

Tim Vryenhoef, CEO of Nutracheck, commented: “We’re really excited about this deal with Immediate. Over the past 17 years we’ve built Nutracheck to become the UK’s highest rated nutrition tracking app. Our new partnership and home with Immediate offers a fantastic opportunity to take Nutracheck to the next level. There is a meeting of minds in terms of our business cultures and ethos, as well as an obvious overlap in terms of our respective audiences, particularly with Immediate’s Food portfolio. We believe this partnership will be excellent for the Nutracheck brand, our fantastic team and ultimately the people we work for, our loyal members.”

Eric Crowley, Partner at GP Bullhound, commented: “Nutracheck is a fantastic example of founders discovering a need in the market and building a leading consumer subscription software (“CSS”) offering. They then optimised the Nutracheck offering by curating a one-to-many relationship with their customers by developing an active consumer community in which users are encouraged to communicate with each other and achieve their goals through Nutracheck.”

Matt Stamp, Partner at GP Bullhound, commented: “It has been a pleasure working with Tim, Rachel, Paul and the Nutracheck team in finding a strong partner for the business. Nutracheck has a compelling synergistic fit with Immediate Media, and we are excited to see Nutracheck’s reach and proposition grow further as part of the Burda group. This deal is another UK example of how we continue to transact despite the current market environment, working with a clear market leader that offers a unique digital proposition.”

This marks GP Bullhound’s 24th software transaction over the last twelve months, further demonstrating the firm’s leading position as an advisor to best-in-class software companies globally, with recent deals including the acquisition of Swiss Post by Unblu, the $500m investment into EcoVadis led by Astorg and General Atlantic, and the merger and €180m majority investment into Echobot and Leadfeeder by Great Hill Partners, among many others.

Enquiries

For enquiries, please contact:

Eric Crowley, Partner

[email protected]
Matt Stamp, Partner

[email protected]
Ben Pittari, Vice President

[email protected]

About GP Bullhound
GP Bullhound is a leading technology advisory and investment firm, providing transaction advice and capital to the world’s best entrepreneurs and founders. Founded in 1999 in London and Menlo Park, the firm today has 12 offices spanning Europe, the US and Asia. For more information, please visit www.gpbullhound.com.