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Princes Group PLC on Wednesday said its parent company NewPrinces Spa has completed the acquisition of Plasmon Srl from Kraft Heinz Co for €124.3 million in cash. The Liverpool, England-based food and beverage firm said Plasmon is a newly established company which owns the business related to the manufacturing, packaging, marketing, selling and distribution of baby food and specialty nutrition food products. This includes the number one baby food brand in Italy, Plasmon, as well as other brands including Nipiol, BiAglut, Aproten and Dieterba. Princes said subsidiary Princes Italia Spa has entered an operating asset lease agreement with Plasmon, which will take effect on Thursday. Under the terms of the lease, all operations related to the Plasmon business will be carried out by Princes Italia. Princes said the parties have reserved the right to assess, at a later stage, the potential transfer of the Plasmon business directly to Princes. Under the lease, Princes Italia is required to make yearly rent payments of €3 million, as well as 1.5% of revenue derived from the operation of the business. The lease has an initial duration of three years and can be renewed at Princes Italia’s sole discretion by giving six months notice to Plasmon. ‘The board considers it in shareholders’ best interests to preserve capital in order to access further value-accretive M&A and strategic growth opportunities, while benefiting from predictable cash outflows, reduced asset risk and significant flexibility to extend or exit the arrangement,’ Princes said. Chair Angelo Mastrolia said: ‘The integration of the Plasmon business represents a strategically important step for Princes Group. It reinforces our leadership in baby food and specialised nutrition, builds on long-standing industrial expertise and reunites highly complementary assets within the group. ‘We believe this transaction strengthens our European industrial platform and supports the continued development of our core categories over the long term.’ Shares in Princes were marginally higher at 455.51 pence on Wednesday morning in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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