PE-backed Nutrisens buys Vegenat Healthcare

With the fresh capital, the company plans to expand its product offering and bring its clinical nutrition range of products into new markets.

Following the acquisition, Serrano will stay on with the company as CEO, to ensure continuity of the business strategy.

After the bolt-on, Nutrisens expects to strengthen its growth, consolidate its position in the clinical nutrition market and increase its international exposure by extending its presence to 20 countries worldwide. The group forecasts to reach revenues of €75m in 2018.

Nutrisens was founded in 2010 from the merger of three companies controlled by Evolem. In March 2017, agri-food-focused investor Unigrains acquired a minority stake in the business from Evolem, which retained a controlling holding after the transaction.

Company
Founded in 1988 and based in Pueblonuevo del Guadiana, in the Spanish region of Extremadura, Vegenat specialises in dietetic food and clinical nutrition products for people suffering from diabetes, dysphagia or obesity.

People
Nutrisens – Georges Devesa (CEO); Mathieu Baiardi (CFO).
Vegenat Healthcare – Cayetano Lopez Serrano (CEO).
Evolem – Clément Venard (strategy and market analyst); Sandrine Escaleira (acquisitions & strategy director).
Unigrains – Sébastien Haselint (investment director).

Advisers
Equity – Eight Advisory (financial due diligence), Cuatrecasas (legal).
Company – Deloitte (M&A, legal).

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