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Biocodex Natural Acquires Natural Remedies Start-Up Hilma

November 17, 2022
November 17, 2022

French pharmaceutical company Biocodex, an expert in microbiota and women's health, acquired a majority stake in Hilma, a fast-growing start-up specializing in natural remedies.

WHO: Hilma, founded by entrepreneurs Hilary Quartner, Nina Mullen, and Lily Galef, launched in January 2020 to reimagine the medicine cabinet with effective, natural alternatives to OTC products. Hilma's remedies are made with powerful herbs and minerals, formulated with a team of doctors, and backed by clinical research. Since launch, the digitally native brand has built a strong community around its best-selling digestive portfolio. They have expanded their product line to encompass everything from bloating to occasional constipation. Hilma is an omnichannel brand, sold DTC on as well as in 750+ stores, including Target, Grove Collaborative, Thrive Market, Juice Press, and Amazon.

Biocodex is a French pharmaceutical company founded in 1953 to develop and market the world's first probiotic yeast strain, Saccharomyces boulardii CNCM I-745. Today, Biocodex focuses its business on three main areas: microbiota care, orphan diseases, and women's health. With 1,600 employees, Biocodex generated net revenues of €418 million in 2021, including 42% in France and 58% internationally. The group is present in 124 countries through wholly owned subsidiaries in 16 countries and a network of distributors worldwide.

WHY: This deal is a key part of Biocodex's international growth strategy and will enable Biocodex to consolidate its presence in the digestive and women's health segments of the US market. The Group aims to strengthen its position in this segment and launch its women's health activity in order to double its turnover by 2027.

IN THEIR OWN WORDS: Julien Dureisseix, GM of the US subsidiary, is delighted with this acquisition: "Behind Hilma, there is a simple observation: a new generation of consumers has high expectations for natural and effective products." Nicolas Coudurier, CEO of Biocodex, adds: "Hilma and Biocodex share the same goal: to be as close as possible to consumers’ expectations and to respond to the growing need for reliable, effective and scientifically proven natural solutions in the medicine cabinet. I am very pleased to welcome a talented team whose entrepreneurial vision and digital expertise will be invaluable in strengthening our presence in the North American market."

Nina Mullen, Co-CEO of Hilma, says, "Our partnership with The Biocodex Group will enable Hilma to rapidly scale our omnichannel retail strategy, reach new audiences, and develop new products."

Hilary Quartner, Co-CEO, adds, "We are thrilled to join the Biocodex family, as they share our core values of commitment to scientifically backed, natural healthcare, and building a sustainable future."

"We look forward to learning from each other and exponentially growing Hilma and The Biocodex Group brands in the US," notes Lily Galef, Chief Brand Officer.


  • Biocodex acquired a majority stake in Hilma. 
  • Hilma's investors include Eurie Kim and Nicole Johnson at Forerunner Ventures, Ludwig Ensthaler at Global Founders Capital, Company Ventures, and BoxGroup, as well as additional angel investors.

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