Probios has acquired BiotoBio, a fellow Italy-based supplier of organic foods, for an undisclosed sum.
In a statement announcing the deal, Probios – majority-owned by private-equity firm Agreen Capital – described the transaction as “transformational”.
Probios, which has around 850 mostly branded lines with organic and gluten-free offerings to the fore, acquired Biotobio from major Italian organic-foods business EcorNaturaSì.
Under the terms of the deal, EcorNaturaSì will hold a minority stake in the enlarged Probios business.
BiotoBio also markets organic and free-from food. The company’s portfolio includes brands such as Baule Volante, Finestra sul Cielo, Fior di Loto, and Vivibio.
Andrea Rossi, Probios’ president and managing partner at Agreen Capital, said the deal took the company’s revenue “past the €100m ($108.2m) mark in just over a year”. Probios generates annual revenue of around €30m, with BiotoBio taking in €70m.
Rossi added: “It significantly strengthens our croup’s positioning within its target market by integrating brands of superior quality and potential. 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.”
Florence-based Probios, founded in 1978, has a presence in more than 40 countries.
As well as its retail offering, the company provides a wholesale service, selling ingredients in bulk through its Biostock brand, established in 2003. Probios also has an arm – Il Nutrimento – which processes fresh organic vegetables.
