The acquisition, realized in partnership with SIMEST, is the first of the Venetian company and it will allow a further expansion of foreign revenues.
Istrana/Montréal, November 4th, 2019 – Labomar S.p.A., a leading company in the research, development and production of food supplements, medical devices and foods for specific medical purposes and cosmetics, has acquired 100% of Enterprises ImportFab Inc., a Canadian firm based in Montréal that operates in the North American pharmaceutical, cosmetic and nutraceutical market.
The operation was carried out in partnership with SIMEST, a company for the promotion of Italian businesses abroad controlled by the Italian Promotional Institution Cassa depositi e prestiti through SACE, that will participate in the acquisition and will hold a minority share of the Canadian company.
The acquisition of Enterprises ImportFab Inc. represents a significant change of pace in Labomar’s growth strategy. It is in fact the first M&A operation of the firm based in Istrana, that until now had coupled its organic growth with the creation of new partner companies without holding majority control of them.
North America is the largest market for the pharmaceutical, cosmetical and nutraceutical sector. The US nutraceutical market alone is worth $35.2 billion (2017 data) and it is estimated that could reach $65.1 billion by 2025 (source: Statista 2019).
“Expanding in international markets, and specifically in the North-American one, is a core pillar of our development strategy for the next years.” – declared Walter Bertin, Labomar’s founder and CEO – “The acquisition and the integration of Enterprises ImportFab Inc. represents a unique occasion for our company: in addition to growing in revenue and size, we will now be able to make available for our clients a production structure with direct access to an interesting and constantly growing commercial area”.
Enterprises ImportFab Inc. has been working for 29 years in the North American market and generates 14 million Canadian dollars of revenue. It makes liquid, semi-liquid and cream products for around fifty pharmaceutical and cosmetic companies.
The entire management team will be involved in the integration project, including ImportFab’s founder Sylvain Renzi, who will support business development in the next three years together with a new General Manager and CFO.
With this operation Labomar reaches two main goals: it complements its offering in the various segments of health care and it brings to around 50% the revenue generated in international markets, with a significant share in the North-American area. Furthermore, the larger aggregate size of the company – that will almost reach 60 million euros in the 2019 consolidated interim balance sheet – will allow Labomar to take on further growth challenges in the next years and to increase the attractiveness of the Group for the top professionals in the sector.
Labomar financed the operation through company cash flows and lines of credit granted by Intesa Sanpaolo, as Leading bank, and Unicredit.
The acquisition was managed by BModel, in the persons of Claudio De Nadai e Martina Torresan, as Corporate Advisors, and supported by a team made of: Marco Vismara and Simone Botti of Oaklins Italia as Financial Advisors; Angelo Noce e Claudia Leancu of Blake, Cassels & Graydon as Legal Advisors; the Canadian Tax and Financial Due Diligence team of Pwc led by Damiano Dussin and Veronique Drouin Hamel, with the organizational support of Pwc Italia, in the person of Nicola Anzivino.
Enterprise ImportFab Inc. was supported by a team made of: Fausto Levy, Sébastien Nadeau, Nicolas Ros of Oaklins E. Canada as Financial Advisors, Kristian Zimmermann and Samuel Blair of BCF Montreal as Legal Advisors.
Labomar
Labomar is a leading company in the research, development and production of food supplements, medical devices and foods for specific medical purposes and cosmetics on behalf of third parties. Its research team works to create, develop and realize high value added products in the nutraceutic field, with a particular vocation for innovation. Many of the food supplements produced by Labomar take advantage of patented technologies that increase the bioavailability, regulate the gastrointestinal absorption and enhance the taste of active ingredients. Thanks to its continuous effort in research and innovation, Labomar strives to become a mentor and inspiration for its clients looking for the most innovative and effective products that can improve the wellbeing of people.
For further information:
Thanai Bernardini, Labomar press office – cell +39.335.7245418 – email: me@thanai.it
