Pharma Green Raises €7M Debt for Pharmacy Network Growth

Pharma Green Holding, a prominent Italian pharmaceutical retail group operating under the Alma Farmacie banner, has successfully secured an additional €7 million in debt financing. The capital injection was entirely provided by funds managed by Eurazeo Global Investor, underscoring continued confidence from the investment firm in Pharma Green's ambitious growth trajectory.

This latest debt issuance follows a significant €10 million facility arranged in June with Banco BPM, channeled through Pharma Green's subsidiary PGH 66 srl. The dual funding rounds are strategically aimed at propelling the group towards its objective of operating approximately 95 to 100 pharmacies by 2027. Notably, Pharma Green has already achieved its initial target of 80 pharmacies by the end of 2026, expanding its footprint across seven Italian regions, including Veneto, Liguria, and Lazio, with a recent acquisition in Castellaneta.

The Italian pharmacy market is experiencing consolidation, driven by a growing demand for accessible healthcare services and a shift towards integrated wellness offerings. With a reported 2025 fiscal year revenue exceeding €100 million and a pro-forma EBITDA of approximately €19 million, Pharma Green is well-positioned within this evolving sector. The group's expansion strategy emphasizes not only physical presence but also the development of over 115 proprietary Alma-branded products and a comprehensive suite of value-added health services.

Pasquale De Felice, co-founder and CEO of Pharma Green, highlighted the significance of the new financing, stating, "This new funding confirms the strength of our strategic path and will enable us to further accelerate the Group's expansion plan." He further emphasized the company's commitment to serving community health and well-being through its extensive network and professional team of over 500 individuals.

Michele Quaranta, co-founder and Head of M&A and Business Development, expressed satisfaction with the renewed partnership with Eurazeo. "After our initial collaboration in March 2025, we are pleased with the renewed trust from Eurazeo, a high-caliber international partner that believed in our project, which began just four years ago." This sentiment reflects a strong working relationship, as Eurazeo previously led a substantial €30 million seven-year bond issuance in March 2025 to support Pharma Green's earlier expansion phases when the group operated 51 pharmacies.

Pharma Green Holding, established in December 2021, has rapidly scaled its operations. The holding company is backed by a club deal of investors, including Eurizon Ecra Infrastrutture Eltif since July 2025. The current shareholder structure sees Unipol Assicurazioni as the largest investor with an 8.59% stake, followed by Eurizon Capital at 7.71%. Other notable shareholders include Rivetex srl (4.88%), associated with Carlo Rivetti, and Arisca srl (4.88%), linked to Andrea Recordati, indicating a diverse and well-supported ownership base.