NutraQ is a leading supplier of subscription-based health and wellness products in the Nordic region. The company was established in Norway in 2002 and at Impilo’s entry in 2017, the company had a strong presence in Norway, Sweden, Finland, Czech Republic and an emerging presence in Denmark.


During Impilo’s ownership, the company has expanded its footprint significantly – both geographically and concept-wise – alongside with an enhanced professionalization and digitalization of operations. Over Impilo’s holding period, revenues and earnings grew w. ca. 20% and 30% per year, respectively.


In February 2021, Impilo and the minority shareholders reached an agreement to divest NutraQ to Norwegian company Orkla , a leading Nordic provider of branded consumer goods.


Key achievements during Impilo’s ownership:


  • Improved governance:
    • Carve out from Sana Pharma Holding; stand alone organization established
    • Reporting significantly improved o Strengthened management team (5 new recruitments, including CEO and CFO)
    • Fit for purpose board (digital and VMS expertise, founders and Impilo)
    • Enhanced performance culture


  • Significant organic growth complemented by VNP acquisition
    • NutraQ’s subscription base of c.410k grew at an organic CAGR of 10% since entry
    • Stable organic growth for VitaeLab in established markets (NO/SE/FI)
    • Successful ramp up in recently entered markets for both VitaeLab (DK and NL) and OSL
    • Exceptional growth for Oslo Skin Lab since launch in 2016, with accelerated growth since 2018
    • Successful acquisition of VNP in Aug-20, integrated in 3 months
    • Increased digitalisation of operations and marketing has enabled more effective customer acquisition

Responsible partner:

Magnus Edlund

Impilo Board Members:

Magnus Edlund Fredrik Strömholm


Nutritional supplements

Revenue 2020:

NOK 862m

No. of employees:

c. 145 FTE


Gustaf Solerød Christensen

Impilo holding period:

Dec-2017 to Jun-2021