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NewPrinces, the parent group of food and beverage group Princes, has acquired 100% of the corporate capital of Italian baby food specialist Plasmon from The Kraft Heinz Company for €124.3 million.
Plasmon’s business includes the manufacturing, packaging, marketing and distribution of baby food and speciality nutrition products, including popular Italian baby food brand Plasmon, alongside other brands such as Nipiol, BiAglut, Aproten and Dieterba.
Under the deal, Princes Italia has entered into an operating lease agreement with Plasmon, effective from 1 January 2026. Princes Italia is required to make annual rent payments of €3 million, as well as 1.5% of revenues derived from the operation of the business as valuable consideration.
All operations relating to the Plasmon business will now be carried out by Princes Italia. The parties may, at a later stage, assess the potential transfer of Plasmon’s assets directly to Princes Group. 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.
Founded in Milan in 1902, Plasmon is among the top early childhood nutrition brands in Italy, producing a range of biscuits, purees, cereals and snacks in the country. In the fiscal year ended 31 December 2024, it generated revenues of €170 million.
Plasmon’s high-volume Latina site produces approximately 1.8 billion Plasmon biscuits annually for the Italian market, and employs around 300 people. The plant’s employees will continue to operate as usual, with the facility also to continue producing Heinz Baby Food for the UK market under a co-packing agreement.
The deal reunites Plasmon’s current business perimeter with Princes Group’s Ozzano Taro production facility, acquired from The Kraft Heinz Company in 2015. The plant was historically a Plasmon factory and continued to manufacture Plasmon infant formula until recently.
Plasmon’s Latina site, which specialises in biscuits, jars and pouches, is complementary to the Ozzano Taro plant, which focuses on liquid milk and infant powdered formula.
The transaction will enable Princes Group to leverage the newly integrated manufacturing and R&D footprint to accelerate the development of new formulations, and expand its offering in the premium and organic segments.
It will also allow for increased production capacity overall, alongside operational flexibility through maximising utilisation across both sites.
Leveraging Princes’ established presence in over 60 countries and its distribution network in key European markets, the Plasmon brand will benefit from further growth and internationalisation.
Angelo Mastrolia, chairman of Princes Group, 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.”
Top image: © Plasmon
