NewPrinces (NWL) Acquisition Presentation summary

Transaction overview

• Acquisition of Plasmon and related brands for €120 million on a cash and debt-free basis, including €25 million positive NWC.

• Deal includes the Latina plant, commercial capabilities, and a co-packing agreement with Heinz UK Baby Food.

• Expected completion in Q4 2025, subject to regulatory approvals.

Strategic rationale and synergies

• Strengthens leadership in infant and specialist nutrition, enabling industrial, commercial, and innovation synergies.

• Accelerates R&D for new formulations and expands premium and organic offerings.

• Increases operational flexibility and scalability, leveraging spare capacity and new formats.

• Expands commercial reach to 60+ countries and enhances product range.

Financial highlights and business plan

• Target generated €170 million in revenues and €17 million EBITDA (10% margin) in FY 2024.

• Revenue CAGR projected at 3% and EBITDA CAGR at 10% through 2029.

• Plasmon expected to remain the leading brand, with infant wet and biscuits as core categories.