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Armònia sells BioDue to Riverside

Armònia, an Italian private equity fund manager, together with the minority shareholders, including CEO Vanni Benedetti, has sold 100% of BioDue, an Italian player in the market of food supplements, medical devices and cosmetics, to the international private equity fund manager Riverside.

The sale of BioDue, which will be completed once the regulatory approvals have been obtained, is the second exit for Armònia Italy Fund. The completion of this transaction will allow Armònia to repay to investors more than 90% of total invested capital.

Armònia acquired the stake in BioDue at the end of 2019 through a delisting. During the three-year holding period, the Company’s turnover grew from approximately €42 million to approximately €75 million expected for 2022, registering an impressive CAGR of over 20%.

Benedetti and the other minority shareholders will reinvest to benefit.

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