Assietta Private Equity preps Naturalia Tantum exit

The sale, which should be launched by March 2023, will target both financial and strategic buyers, the source close said. Naturalia Tantum is also finalising four acquisitions in its sector, the source explained, without revealing the names of these targets.

While M&A talks are unpredictable, management is optimistic on completing them by the end of this year, this source said.

The execution of this M&A strategy will be a driver for the sale process, the source familiar argued, as those deals in pipeline will allow Naturalia Tantum to enter new growing markets and consolidate its position.

Naturalia Tantum will be marketed off over its EUR 10m 2023 EBITDA forecast, the source close said. The transaction entails the whole business, both sources said.

Mergermarket first reported in July that Naturalia Tantum, which is in its fifth year under Assietta’s ownership, was attracting buyer interest.

Timing for this sale process is favourable as several private equity houses have shown interest in the industry in Italy, which is still very fragmented, both sources said.

Recent deals in the space include private equity firm Milano Capital’s acquisition of a minority stake sale in Landoll, the Italian owner of the Nashi and Nashi Argan haircare brands in January; sponsor Palladio buying a minority stake in Bios Line in October 2021; and Unilever [taking a 75% stake in Italian personal care firm Equilibra for an undisclosed amount in June 2018, as reported.

Naturalia Tantrum was formed when Assietta merged two existing holdings, the source close said. The sponsor bought San.Eco.Vit, an Italian producer of natural products and cosmetics, in December 2017, and then a 60% stake in Bioearth, a natural cosmetics company, in October 2018.

Under its guidance, Naturalia Tantrum acquired Di-Va, manufacturer of Incarose-brand cosmetics and body creams, for an undisclosed sum in September 2020. KPMG and DLA-Piper advised the buyside.

In June 2021, it acquired Togethair, Specchiasol’s haircare and hairdye division; and in July, it purchased Natural Ways Laboratories, which manufactures food supplements, from turnaround fund Ibla Capital.

Assietta Private Equity, Naturalia Tantum, Houlihan Lokey and Equita declined to comment.

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• Topics
• Exits
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• Southern Europe
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• Houlihan Lokey