Riverside’s Euromed makes Probelte Biotecnología bolt-on

The Riverside Company’s Spanish herbal extracts business Euromed has acquired Probelte Biotecnología.

Murcia-based Probelte develops and manufactures ingredients used in natural dietary supplements. It holds ten worldwide patents for extracts developed from pomegranates and olives, which are used to address fatigue and high cholesterol.

Riverside carved Euromed out of Swedish pharmaceuticals company Meda in December 2015. The Barcelona-headquartered business, which provides standardised herbal extracts used in supplements and cosmetics, has been growing at double-digit rates in recent years.

Partner Karsten Langer, principals Rafael Alvarez-Novoa and Damien Gaudin, and associate Michele Volpe worked on the deal for Riverside.

Grant Thornton and Uría Menéndez advised the buyout firm.