ProSiebenSat.1 has apparently sold its shares in Vitafy. However, this was apparently not due to the losses the Munich-based startup recently incurred.
Around three years ago, ProSiebenSat.1 at the Munich sports nutrition startup Vitafy Now the media group has Report from German Startups reportedly sold his shares again.
Most recently, ProSiebenSat.1 held 49.9% of Vitafy. According to Deutsche Startups, the company paid €7 million and €20 million in media services for 28.9% of the shares almost two years ago. The Unterföhring-based company already held 21.1% of the startup. In addition, ProSiebenSat.1 secured "several call options for the gradual acquisition" of the remaining shares at the time—so it all seemed to be heading toward a complete takeover of the online shop for nutritional supplements.
“New strategic direction”
An exit to the media group is now off the table. Vitafy initiator Venture Stars now holds 53.8% of the company again, and the four founders each own between 5 and 8.6 percent of their startup. According to information from Deutsche Startups, the buyback was completed "at a bargain price."
Vitafy has been operating in the red in recent years. In 2016, the loss was €9.7 million, and in previous years, there were further losses of €6.4 million. However, ProSiebenSat.1 cites "changed priorities in line with the Group's new strategic direction" as the reason for the exit.
