Plasmon (Kraft Heinz) returns to Italy, acquired by NewPrinces

NewPrinces has announced the signing of a binding agreement for the acquisition , from Heinz Italia , of 100% of the share capital of a recently established company, into which the activities relating to the production, packaging, marketing, sale and distribution of infant formula and foods for special medical purposes and specialist nutrition will be transferred. The agreement therefore provides for the acquisition of the historic Plasmon production plant in Latina, active in the production of infant formula and specialist nutritional products and of the Plasmon , Nipiol , BiAglut , Aproten and Dieterba brands.

This transaction represents an important strategic milestone for NewPrinces, completing the process begun in 2015 with the acquisition of Kraft Heinz's Ozzano Taro (PR) plant, specializing in the production of liquid and powdered infant formula and products for special dietary needs. With this transaction, the company has brought together its main historical production platforms, strengthening its leadership in the baby food and specialty products segments in Italy and Europe.

"Bringing iconic brands like Plasmon, Nipiol, BiAglut, Aproten, and Dieterba back to Italy realizes a vision we've been pursuing for years: building an Italian multinational capable of breathing new life into beloved brands deeply rooted in our country's identity," said Angelo Mastrolia , President of NewPrinces. "With this move, we renew our commitment to Italy and the excellence of its food industry."

Plasmon, a historic brand with over 120 years of history, founded in 1902 by physician Cesare Scotti, is the leading brand in the Italian baby food market, thanks to its iconic biscuit and a wide range of baby food and specialized products. Nipiol, included in the scope of the acquisition, is another significant brand in the Italian baby food market and represents a stable guarantee for parents, thanks to the quality and convenience of its products. Aproten and BiAglut are two specialized nutrition brands with strong nutritional expertise, in low-protein and gluten-free diets, respectively, and are a point of reference for consumers.

The transaction significantly strengthened NewPrinces' position in the key, high-margin segment of infant and specialty nutrition, generating significant industrial, commercial and innovation synergies.

Specifically, the company will leverage its integrated R&D center to accelerate the development of new formulations, including those with postbiotic ingredients, and expand its offering in the premium and organic segments; increase production capacity and operational flexibility through the integration of innovative formats such as pouches and baby snacks; accelerate the internationalization of Italian baby food , leveraging NewPrinces' consolidated commercial presence in over 60 countries and its distribution network in key markets such as the United Kingdom, Germany, the Netherlands, and Poland; expand its product range through the development of complete meals, biscuits, and baked goods, new lines of infant pasta, sauces, and ready-made meals, to accompany consumers from early childhood through advanced weaning; and maximize the use of the Ozzano Taro plant's production capacity for liquid and powdered infant formula.

Under the terms of the agreement, the company will acquire 100% of the brands' share capital at the closing date. The enterprise value (EV) of the transaction is €120 million , on a cash-free and debt-free basis. Completion of the transaction is expected by the second half of 2025 , subject to the satisfaction of the required conditions.

The brands involved in the acquisition reported revenues of approximately €170 million as of December 31, 2024, with an EBITDA of €17 million and a positive NWC of €25 million , included in the EV.

NewPrinces was assisted by BonelliErede as legal advisor and by Vitale & Co. as M&A and transaction advisor. BNP Paribas and MPS acted as financial advisors, providing the company with the necessary financial support.