EXCLUSIVE Buyout fund Ardian makes $1.2 bln swoop on Italys Biofarma Group – sources – Reuters

LONDON, Jan 16 (Reuters) – European personal equity company Ardian has actually clinched a deal to purchase Italian drug firm Biofarma Group for about 1.1 billion euros ($1.26 billion) – its 2nd pharmaceutical deal in less than a year, two sources with understanding of the matter told Reuters.The deal, which might be announced as quickly as Monday, will see Ardian expanding in the rewarding dietary supplement market, an industry which has actually been expanding during the COVID-19 pandemic as individuals have actually relied on multivitamin items to boost their immunity.Biofarma and Ardian were not immediately available for comment.Register now free of charge endless access to Reuters.comRegisterBiofarma, led by Chief Executive Maurizio Castorina, specialises in food supplements, probiotic-based drugs and cosmetics. It has income of about 330 million euros and runs 4 factory and 3 R&D labs in northern Italy.The worldwide nutraceuticals market was valued at $454 billion in 2021 and is expected to broaden at a compound yearly development rate (CAGR) of 9% as much as 2030, according to U.S. consulting firm Grand View Research.The growing demand for dietary supplements and functional food is anticipated to be a crucial driving element in the post-pandemic world.The deal worths Biofarma at more than 20 times its core revenues of 50 million euros, the sources said.It is Ardians second investment in a European pharmaceutical contract development and manufacturing (CDMO) player over the past 12 months after the Paris-based investment firm backed EQTs purchase of Swedish company Recipharm in June.Japanese bank Nomura worked with Ardian on the transaction as its monetary advisor and funding company while Canson Capital Partners and Ethica advised White Bridge Investments, the sources said.Ardian got in unique talks to buy Biofarma from owner White Bridge Investments earlier this year, after exceeding a rival offer from buyout fund BC Partners, one of the sources stated, speaking on condition of anonymity.BC Partners was not right away available to comment.For Milan-based White Bridge, the offer ranks as its biggest exit because the company was launched in 2013. White Bridge, led by former BC Partners financier Marco Pinciroli, took control of Biofarma in 2019 by merging it with its portfolio business Nutrilinea.The combined group, which at first had total revenue of 170 million euros and a labor force of 600, has been growing through a series of bolt-on acquisitions consisting of the purchase of a majority stake in the completed items division of competing Giellepi in December.($1 = 0.8761 euros)Register now free of charge unlimited access to Reuters.comRegisterReporting By Pamela Barbaglia; Editing by Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

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