SIFI Acquired by Faes Farma: A Major Shakeup in the Ophthalmic Industry

21 Invest, the European investment group founded by Alessandro Benetton, has announced the sale of the Italian ophthalmic company SIFI to the Spanish pharmaceutical group Faes Farma. The sale, expected to close by the third quarter of the year, marks a significant strategic move for both parties involved. As financial advisor and debt financing provider, J.P. Morgan aided Faes Farma in the transaction, while Cuatrecasas and Chiomenti served as legal advisors, alongside EY, Gide, Wolf Theiss, and A.T. Kearney for due diligence. Evercore and Mediobanca were the exclusive financial advisors to SIFI’s shareholders and 21 Invest. Legal advice for SIFI and 21 Invest was provided by Hogan Lovells. 21 Invest had owned SIFI since 2015, during which time the company underwent significant transformation into a global player in ophthalmology, supported by strategic and industrial guidance from 21 Invest and Fabrizio Chines, a member of the founding family. Notably, SIFI’s revenue exceeded 100 million euros in 2024, with 65% coming from international sales, compared to 30% in 2015. The company’s strategy focused on managerial development, international expansion, R&D, and digitalization, underpinned by 21 Invest’s backing. Moreover, SIFI focused on unmet ophthalmic needs, leading to innovative products like AKANTIOR. The acquisition by Faes Farma aligns with their expansion strategy, particularly after acquiring the Portuguese Laboratories Edols. Together, these acquisitions fortify Faes Farma’s position in the ophthalmology sector, offering significant market synergies and new growth opportunities in Europe.