Plasmon returns to Italy: thanks to NewPrinces
Mastrolia's company and Kraft Heinz have signed a €120 million deal

The bombshell, metaphorically speaking, exploded shortly after the stock exchange closed for trading in Piazza Affari. After rumors, gossip, and some tentative confirmations (see EFA News), NewPrinces, formerly Newlat Food, an Italian multi-brand agri-food group listed on Euronext STAR Milan, announced it has signed a binding agreement to acquire 100% of the share capital of a recently established company from Heinz Italia. The new company—and this is the long-awaited scoop—will incorporate the seller's current activities, including the production, packaging, marketing, sale, and distribution of infant formula, foods for special medical purposes, and specialized nutrition.
Simply put, the agreement involves the acquisition of the historic Plasmon production plant in Latina, Italy, which produces baby food and specialty nutritional products, including the Plasmon, Nipiol, BiAglut, Aproten, and Dieterba brands. The Latina plant employs approximately 300 people and produces approximately 1.8 billion Plasmon-branded biscuits annually for the Italian market. Industrial and operational activities, including the plant and personnel, will continue as normal under the new ownership. Additionally, the Latina site will continue to produce Heinz Baby Food for the UK market under a co-packing agreement.
Upon closing, expected by the second half of 2025, the company will acquire 100% of the target's share capital. The enterprise value of the transaction is €120 million, on a cash-free and debt-free basis. The transaction will be paid in cash. Completion of the transaction is subject to the satisfaction of the required conditions. The target reported revenues of approximately €170 million as of December 31, 2024, with an EBITDA of €17 million and a positive NWC of €25 million, included in the EV.
The Mastrolia family-owned company emphasizes that the transaction represents an important strategic milestone for NewPrinces, completing the process begun in 2015 with the acquisition of the Ozzano Taro (PR) plant from Kraft Heinz. "This acquisition is a source of great pride and excitement," commented Angelo Mastrolia, president of NewPrinces. "Bringing iconic brands such as Plasmon, Nipiol, BiAglut, Aproten, and Dieterba back to Italy realizes a vision we've been pursuing for years: building an Italian multinational capable of breathing new life into beloved brands deeply rooted in our country's identity. With this transaction, we renew our commitment to Italy and the excellence of its food industry".
EFA News - European Food Agency