Private equity fund Abac Solutions and PronoKal Group’s management team have acquired 100 per cent of the company from its founders, in order to support its expansion process in Europe and Latin America.
PronoKal Group makes protein-based dietary treatments for obesity and overweight, with sales in excess of EUR42 million and presence in 15 countries in Europe and Latin America.
The Barcelona-based company was founded in 2004 to provide effective weight loss treatments. The company’s offering includes nutritional products, medical supervision, personalised dietary advice, personal training and coaching services, as well as materials to facilitate weight loss maintenance. In Spain, which accounts for 49 per cent of sales, the company has a patient base of over 300,000 people and more than 2,500 prescribing doctors. PronoKal Group is also present in the UK, Belgium, the Netherlands, Mexico, Argentina, Peru and Brazil, among other markets.
The investment by Abac and the management team aims to increase the group’s presence in Europe and Latin America, where obesity is an increasingly widespread disease. PronoKal Group, which will continue to be led by its current management team, will continue research for the development of new treatments and the improvement of the current ones. The company is also planning nine new openings over the next five years in countries such as Colombia, Chile or Italy, with the aim of doubling its revenue base. Abac’s investment will also strengthen the leadership team with new specialists in the fields of medicine, dietetics and management.
Oriol Pinya, founding partner at Abac Capital, says: "We are confident that we can support the management team in accelerating the company's growth through its international expansion, as well as continuing to move towards an increased professionalisation."
Dr Joan Fondevila, PronoKal Group’s CEO and one of the co-investors in the deal, says Abac will be crucial to accelerating the company’s growth, as well as investing in new and better treatments.
