The M&A advisors that helped Mayoly Spindler buy Biohealth

02 April 2021 2 min. read

Beefing up its footprint and distribution network in Southern Europe, France’s Mayoly Spindler has acquired Italian food supplement company Biohealth. 

The more than 100-years-old Mayoly Spindler is an independent pharmaceutical company, specialising in gastroenterology and dermo-cosmetics. The company produces 70% of its products in France, including its flagship consumer health drugs Probiolog, Simalvia (Meteospasmyl in France) and Dozurso (Cholurso in France), and exports these to dozens of markets worldwide. 

As part of its goal to “become a market leader in Europe”, according to Nicolas Giraud, Vice-President of Global Pharma, Consumer Healthcare & Diagnostic, the Paris-based company has snapped up Biohealth for an undisclosed sum. 

The M&A advisors that helped Mayoly Spindler buy Biohealth

“This is the cornerstone of our European development plan and strengthens our presence in the world’s second largest food supplement market in the world [after the US], said Giraud. 

Located in Rivoli, in the North of Italy, Biohealth develops and sells over 400,000 units per year, across its brands such as Lithos, Acidif, Lithosolv, Alkalos, Idrobasic, TunicAid, Midir, Tradafertil, Evandol and Evan. The group’s food supplement product range targets two main segments: minerals and urinary discomfort. 

Leveraging Biohealth’s distribution network across Italy, Mayoly Spindler will now be able to cascade its products through Italian wholesalers to more than 18,000 pharmacies. 

The cross-border deal was brokered by a cohort of M&A consultancies. Grant Thornton was the lead advisor for financial and tax due diligence, delivered by Italy-based advisors Stefano Marchetti, Marco Degregori, Edoardo Dell'Acqua, Gianni Bitetti and Mattia Tencalla. A team from Marsh JLT led by Jean-Marie Dargaignaratz, Ljuba Giannella and Marco Acampora provided the insurance due diligence.

Meanwhile, the legal aspects of the deal were supported by Italian law firm Gatti Pavesi Bianchi Ludovici (Stefano Valerio, Amélie Gillet, Antonella Guetta, Michele Sartori, Massimiliano Patrini, Francesca Ellena, Andrea Gaboardi and Angelica Pegoraro), while regulatory aspects were overseen by food consultancy Dialfarm, with a team led by Renato Minasi and Roberto Minasi.

Philippe Charrier, the CEO of Mayoly Spindler, expressed his delight with the move, adding that the firm expects to continue to its growth trajectory through a combination of organic growth and strategic acquisitions.