PHARMANUTRA: SIGNING OF THE AGREEMENT FOR THE ACQUISITION OF 100% OF AKERN S.R.L.

PISA, Italy, June 15, 2022 /PRNewswire/ -- PharmaNutra S.p.A. (MTA; Ticker PHN), a company specialized in nutritional supplements, based on iron and minerals and medical devices for muscles and joints, is pleased to announce the signing of the contract for the acquisition from Red Lions S.p.A., Jacopo Talluri and Liside S.r.l., of the 100% of Akern S.r.l. – growing player active in the R&D, production and commercialization of medical devices and software for the monitoring of the body composition through bio-impedance techniques.

The acquisition price for the 100% equity shares of Akern is EUR 12 million, excluding an earn-out to the sellers for a maximum of EUR 3 million linked to EBITDA and gross margin targets for the years 2022, 2023, and 2024.

The closing is subject, among others, to the "Golden Power" authorization by the Italian government and it will be completed with two separate operations: by July 2022 there will be the purchase of the stake of Red Lions and Jacopo Talluri, representing respectively 72.96% and 13.52% of Akern's equity; by December 2022 there will be the purchase of the stake of Liside, 13.52% of Akern's equity.

Andrea Lacorte, Chairman of Pharmanutra S.p.A., commented:

"The acquisition of Akern represents a turning point for both the companies and a key milestone in the implementation of PharmaNutra's growth strategy. Akern is a cash generating company with a growing business which will allow the realization of important strategic synergies, starting from 2023, with a boost and diversification of the business lines. Pharmanutra will heavily strengthen its know how benefiting from more than 40 years' experience of a leading Italian company in the bio-impedance analysis, and it will support Akern in consolidating its presence in the Italian and International markets through our capillary network of distributors.

Synergies – concluded Mr. Lacorte – aimed to increase exponentially the competitiveness, with enormous growth opportunities and value creation for the shareholders."

Contacts:
Investor Relations Pharmanutra, 050 7846500, investorrelation@pharmanutra.it
Gianluca Gracci, Pharmanutra, +39 345 3646330, g.gracci@pharmanutra.it  
Cristina Tronconi, +39 346 0477901, ctronconi@sprianocommunication.com
Matteo Russo, +39 347 9834881, mrusso@sprianocommunication.com

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