Italmobiliare purchased 60% on top of its already 20% stake in Officina Profumo Farmaceutica di Santa Maria Novella, which amounts to €120 million, according to the investment company.
Officina Profumo Farmaceutica di Santa Maria Novella is reportedly one of the oldest pharmaceutical laboratories in the world. The company manufactures over 600 products, including essences and products for body care and ambient fragrances.
The company achieved a turnover of approximately €31.5 million and an EBITDA of over €12 million with a net cash position of €19 million in 2019.
Italmobiliare has reportedly made investments in portfolio companies for more than €240 million since the beginning of 2019.
The transaction is expected to be closed within mid-September 2020.