Probios acquires free-from food firm BiotoBio

The Italian producer, which supplies products to the UK, said the move had strengthened its position in the European health and wellness food sector.

Supported by Agreen Capital, the acquisition was a key move in a strategic plan to consolidate a leading organic, healthy and free-from food hub in Europe. EcorNaturaSì, previously will retain a minority shareholding in the new hub.

Andrea Rossi, president of Probios and managing partner of Agreen Capital, said: “This acquisition – so far, the main M&A transaction of the year in the food health and wellness sector – takes Probios Group revenue past the €100m mark in just over a year. It significantly strengthens our Group’s positioning within its target market by integrating brands of superior quality and potential. ​

Further acquisitions

“The prestigious names of our partners in this project and the strong interest demonstrated by several others reconfirm the strong focus on sustainability, ESG principles and consumer wellness, all of which are the cornerstones of our investment strategy. We now aim for further industrial and international acquisitions.”​

Probios has recently revamped its visual identity with a new logo and graphic design across its 850-plus signature products, boasting the ‘widest selection of gluten-free products on the market’.

Renato Calabrese, chief executive of Probios, added: “We are proud to have created a pan-European group which has nutrition, wellness, and sustainability at the core of its mission. We aim to boost an extraordinary portfolio of brands known for their quality, innovation and solid ties to the Italian agricultural and production chains. ​

‘Strengthening our industrial footprint’

“In the coming months, we will focus on implementing our ambitious strategic plan, which includes consolidating our national and international commercial presence and strengthening the group’s industrial footprint simultaneously.”​

Meanwhile, Italian firm Newlat has completed the acquisition of Princes​​ from Mitsubishi Corporation in a deal worth £700m.

Newlat simultaneously announced its intention rebrand as New Princes Group, which comprises Newlat and its existing subsidiaries along with the addition of Princes. The rebrand is expected to be completed by the end of this year.