Princes Group, through its parent company NewPrinces, has completed the acquisition of 100% of the corporate capital of Italian baby food specialist Plasmon from The Kraft Heinz Company for €124.3 million, marking a significant consolidation in the European early childhood nutrition sector.
Plasmon’s business covers the manufacturing, packaging, marketing, and distribution of baby food and specialized nutrition products. Its portfolio includes the iconic Plasmon brand, alongside Nipiol, BiAglut, Aproten, and Dieterba, all well established in the Italian market.
As part of the transaction, Princes Italia has entered into an operating lease agreement with Plasmon, effective from 1 January 2026. Under the terms, Princes Italia will make annual rent payments of €3 million, plus an additional 1.5% of revenues generated from the operation of the business as variable consideration.
All operations relating to the Plasmon business will now be carried out by Princes Italia. The parties may also assess, at a later stage, the potential transfer of Plasmon’s assets directly to Princes Group. The lease agreement has an initial duration of three years and may be renewed at Princes Italia’s sole discretion, subject to six months’ notice.
Founded in Milan in 1902, Plasmon is one of Italy’s leading early childhood nutrition brands, producing biscuits, purées, cereals, and snacks domestically. In the fiscal year ended 31 December 2024, the business generated revenues of €170 million.
Plasmon’s high-volume production facility in Latina manufactures approximately 1.8 billion Plasmon biscuits annually for the Italian market and employs around 300 people. Operations at the site will continue as usual, with the plant also maintaining the production of Heinz Baby Food for the UK market under an existing co-packing agreement.
The acquisition reunites Plasmon’s current business perimeter with Princes Group’s Ozzano Taro (Parma) production facility, which was acquired from The Kraft Heinz Company in 2015. The plant was historically a Plasmon factory and continued to manufacture Plasmon infant formula until recently.
The two sites are complementary: the Latina facility specialises in biscuits, jars, and pouches, while Ozzano Taro focuses on liquid milk and infant powdered formula. Princes Group said the integrated footprint will support faster development of new formulations and expansion in premium and organic segments.
The transaction is also expected to increase overall production capacity and provide greater operational flexibility by maximising utilisation across both sites. Leveraging Princes’ presence in more than 60 countries and its established distribution network in key European markets, the Plasmon brand is set to 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.” He added: “We believe this transaction strengthens our European industrial platform and supports the continued development of our core categories over the long term.”
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