EL PUERTO DE SANTA MARIA, Spain, Sept. 01, 2023 (GLOBE NEWSWIRE) -- Spanish food technology company, Nortem BioGroup, has applied for listing on the Paris Stock Exchange with a view to becoming a listed company in the next few weeks, thus reinforcing its position as a leader in the sustainable food sector.
With sales spanning seven European nations, Nortem sells its product catalogue online to more than half a million consumers. It had a turnover of more than seven million euros last year, mainly through Amazon (AMZN).
Specialising in the development of functional supplements and products that promote human well-being, Nortem operates as a holding company and currently controls five different brands of organic products and materials: Nortembio, NaturalPharma Laboratories, Luxury & Grace, Ecodescalk and LG Health iSystems.
Seventy percent of its products are certified organic and meet the highest quality and food safety standards, as well as CAAE and Euroleaf certifications, among others.
Its IPO process began 18 months ago and the company expects, following the eventual approval by the Euronext Admissions Committee, to start trading this month.
José Luis Vázquez, founder and president of Nortem BioGroup, explained that "For Nortem, this is a crucial moment. The future listing in Paris endorses our passion for innovation and sustainability in food technology, for improving people's lives by developing projects that are healthy and for driving our vision for the future."
Today, the company has a team of 35 specialists, 20 percent of whom are focused on R&D.
More than 30 percent of the company's revenue is spent on research and development, which is carried out from the company's 5,000 square metre facilities in Puerto de Santa María, which will be expanded in the coming months.
Vázquez said: "This is a transformational moment for Nortembio and the decision to go public underlines our commitment to innovation and sustainability in the field of bio-food technology. We are proud to be a leader in organic and natural products, and this new stage of our growth will allow us to advance our mission of promoting wellbeing and environmental responsibility."
Nortem operates as a biotech investment company, with an aggressive brand and product development strategy that it hopes to reinforce. It champions the cause of promoting sustainable food choices, innovative supplements and potent probiotics, all in line with the brand's commitment to environmental protection and human health.
"Listing on the Paris Stock Exchange is not just a business milestone; it is a testament to our vision and the values we hold dear. We hope that this strategic decision will allow the company to expand its production capacity and soon reach anywhere in the world," explained Vazquez.
Euronext is the pan-European stock exchange, created to foster collaboration between European capital markets. It includes the stock exchanges of Paris, Oslo, Dublin, Milan, Brussels, Amsterdam, Lisbon, and the London futures market.
The company is being advised on the transaction by Solventis.
Contacts:
Pedrosa IR
ir@pedrosa.uk
