Natraceutical, the fast-growing Spanish functional-foods concern, plans to launch a €10m (US$12.3M) share offer to finance the recent acquisition of UK rival Braes Group.
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As part of the transaction, the Valencia-based company it will issue10m new shares with a €.10 nominal value. Natraceutical will propose the offer in its upcoming
Annual Shareholders Meeting.
Last month, Natraceutical bought London-based Braes Group from 3i private equity group for €80m. The deal was the launch pad for Natraceutical’s acquisition-based international expansion. Braes owns Swiss-based food biotech companies Obipektin and Spreda and UK-based Overseal.
