(Alliance News) - Farmacomo Spa announced Friday that it has finalized the formation of a new company called Baubau Srl, into which the portal baucosmesi.it, an e-commerce company specializing in the sale of natural, vegan and made-in-Italy products for dog care and hygiene, has been contributed.

The board of directors of the new company includes the founder of the Bau Cosmesi portal, Andrea Bianchi, as CEO, the president, Federico Manna, and Stefano Colarieti, formerly Strategic Planning & M&A Specialist at Farmacosmo.

"The transaction is of great strategic importance as it broadens Farmacosmo's value proposition, which consolidates its leadership in e-commerce for beauty, care and wellness, even in the pet sector," the company explains.

The Bau Cosmesi portal has been active since April 2021 and, in 2022, totaled revenues of more than EUR300,000, with an annual increase of about 200 percent, reaching the level of substantial break-even in terms of Ebitda, with zero net debt at the end of the year. The growth path was supported by improvement in all key business indicators: specifically, for the year 2022, the number was about 9,700, up 143% year-on-year, the number of loyal customers rose 201% to 1,600, the conversion rate increased to 2.4%, up 18%, and the average shopping cart rose to EUR41 from about EUR35 in 2021.

Pharmacomo trades in the red 1.8% at EUR1.96 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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