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2016-05-31

RECORDATI: RECORDATI ACQUIRES THE ITALIAN PHARMACEUTICAL COMPANY ITALCHIMICI

Milan, 31 May 2016 -
Recordati announces the acquisition of 100% of the share capital of
Italchimici S.p.A., an Italian pharmaceutical company with operational
headquarters in Milan, from Progressio SGR, manager of the fund Progressio
Investimenti II, IDeA Capital Funds SGR, manager of the fund Fondo IDeA
Efficienza Energetica e Sviluppo Sostenibile, and from managers of the
company itself. The value of the transaction (enterprise value) is of around
€ 130 million and will be funded from existing liquidity. The signing and
closing of the transaction took place at the same time.

Italchimici, with over 40 years of history and revenues in 2015 of € 46
million, is a consolidated firm in the Italian pharmaceutical market with
well-known products. The company offers therapeutical solutions mainly in the
gastroenterological and respiratory areas which consist of both
pharmaceutical products as well as food supplements and medical devices to
improve the health and well-being of patients. The main brands in its
extensive product portfolio are Reuflor, Peridon and Lacdigest in the
gastroenterological offering and Aircort among the respiratory products.

"The acquisition of Italchimici represents an excellent opportunity to
accelerate growth within the group, and in particular in the Italian market,
with an interesting portfolio of well-known products that have significant
market shares" declared Giovanni Recordati, Chairman and CEO. "We are
developing a growing presence in the area of gastroenterology and the
consolidated Italchimici brands, much appreciated by the medical community,
represent a valid complement to our current portfolio."

Filippo Gaggini, CEO of Progressio, declared: "Thanks to extraordinary
managers such as Riccardo Zagaria (CEO), Emanuele Loiacono (Commercial
Director), Barbara Mazza (Strategic Marketing Director) and Riccardo Baraldi
(CFO), we have been able to complete a very interesting transaction in the
pharmaceutical sector. Once again we have shown how important it is in the
management of a fund to be able to identify, with the support of quality
managers, companies with solid fundamentals and development potential".

Sergio Buonanno, manager of the fund IDeA Efficienza Energetica e Sviluppo
Sostenibile, declared: "We are pleased to have contributed to this successful
operation, carried out with first class partners, which has set the basis for
the further development of a nice and solid company such as Italchimici".

Recordati

, established in 1926, is an international pharmaceutical group, listed on the
Italian Stock Exchange (Reuters RECI.MI, Bloomberg REC IM, ISIN IT
0003828271), with a total staff of around 4,000, dedicated to the research,
development, manufacturing and marketing of pharmaceuticals. Headquartered in
Milan, Italy, Recordati has operations in the main European countries, in
Russia, in other Central and Eastern European countries, in Turkey, in North
Africa and in the United States of America. An efficient field force of
medical representatives promotes a wide range of innovative pharmaceuticals,
both proprietary and under license, in a number of therapeutic areas
including a specialized business dedicated to treatments for rare diseases.
Recordati is a partner of choice for new product licenses for its
territories. Recordati is committed to the research and development of new
specialties within the urogenital therapeutic area and of treatments for rare
diseases. Consolidated revenue for 2015 was € 1,047.7 million, operating
income was € 278.5 million and net income was € 198.8 million.

Progressio SGR

is an independent private equity firm managing € 205 million through the fund
Progressio Investimenti II, of which approximately 80% already invested. Its
aim is to invest in leading Italian companies with high growth potential in
the domestic and international markets and that represent an excellence in
their reference sectors. The portfolio of the Fund currently - after the sale
of Italchimici - includes investments in different sectors: high-end
furniture with Giorgetti; precision mechanics with Duplomatic, chemical
industry with Industrie Chimiche Forestali; jewelry with Orocash-Luxury Zone.
Progressio is currently raising a new fund, Progressio Investimenti III.

IDeA Capital Funds SGR S.p.A.

was established in December 2006 and is 100% owned by DeA Capital S.p.A., a De
Agostini Group company active in Alternative Asset Management. IDeA is one of
the leading independent Italian asset managers active in private equity, with
2.2 billion euros of assets under management. It invests both in global funds
of funds and in direct funds which are primarily focused on Italian
companies. These two business areas are part of the same value-creating
strategy implemented for the benefit of IDeA's investor base, which includes
sophisticated institutional investors as well as successful entrepreneurs.
IDeA manages four funds of funds (IDeA I Fund Of Funds, Icf II, IDeA Crescita
Globale, Icf III), a direct co-investment fund which invests in minority
positions of mainly Italian mid-market companies (IDeA Opportunity Fund I),
two sector-focused fund (IDeA Efficienza Energetica e Sviluppo Sostenibile,
and IDeA Taste of Italy). In addition, IDeA started managing the fund
Investitori Associati IV in April, 2015.

For further information:

Recordati website: www.recordati.com

Investor Relations
Media Relations
Marianne Tatschke
Studio Noris Morano

(39)0248787393
(39)0276004736, (39)0276004745
e-mail:inver@recordati.it
e-mail:norismorano@studionorismorano.com

S
tatements contained in this release, other than historical facts, are
"forward-looking statements" (as such term is defined in the Private
Securities Litigation Reform Act of 1995). These statements are based on
currently available information, on current best estimates, and on
assumptions believed to be reasonable. This information, these estimates and
assumptions may prove to be incomplete or erroneous, and involve numerous
risks and uncertainties, beyond the Company's control. Hence, actual results
may differ materially from those expressed or implied by such forward-looking
statements. All mentions and descriptions of Recordati products are intended
solely as information on the general nature of the company's activities and
are not intended to indicate the advisability of administering any product in
any particular instance.

Italchimici acquisition
http://hugin.info/143644/R/2016850/748156.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: RECORDATI via Globenewswire

HUG#2016850

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