Fund Ardian buys Italy's Biofarma, founding family keeps 30% stake

Zenlabs Ethica

17/01/2022 09:50

MILAN, Jan 17 (Reuters) - European private equity firm
Ardian struck a deal to buy the majority of Italy's Biofarma
Group from White Bridge Investments in order to boost further
the international growth of the drug company, a statement said
on Monday.
    The Scarpa family, which founded the group, will keep a 30%
stake in the drug firm and Maurizio Castorina will continue to
lead Biofarma as chief executive, it added without providing
financial details of the deal.
    On Sunday two sources with knowledge of the matter told
Reuters Ardian had signed the takeover agreement for about 1.1
billion euros ($1.26 billion).  urn:newsml:reuters.com:*:nL8N2TV0HJ
    White Bridge, led by former BC Partners investor Marco
Pinciroli, took control of Biofarma in 2019 by merging it with
its portfolio company Nutrilinea.
    Ardian entered exclusive talks to buy Biofarma from owner
White Bridge Investments earlier this year, after trumping a
rival offer from buyout fund BC Partners, one of the sources
said on Sunday.
    Biofarma, specialised in food supplements, probiotic-based
drugs and cosmetics, reported revenue of 230 million euros in
2021, of which around 50% from sales abroad.
    Nomura, BNP Paribas and Mediobanca advised Ardian in the
takeover. Canson Capital and Ethica Group were co-Advisors for
White Bridge. 
    
    
    
    
     

($1 = 0.8750 euros)

 (Reporting by Cristina Carlevaro, Editing by Louise Heavens)
 ((cristina.carlevaro@thomsonreuters.com; +39 06 80307729;))