Reuters reveals Buyout fund Ardian makes $1.2 bln swoop on Italy’s Biofarma Group

Reuters broke the news that European private equity firm Ardian has clinched a deal to buy Italian drug firm Biofarma Group for about 1.1 billion euros ($1.26 billion) — its second pharmaceutical deal in less than a year. The transaction will see Ardian expanding in the lucrative dietary supplement market, an industry that has been booming during the COVID-19 pandemic as people have turned to multivitamin products to boost their immunity.