Procemsa (“the Group”), the leading European developer and manufacturer of food supplements, probiotics, medical devices and cosmetics, today announces that Alessandro Sertorio will become the new Group Non-Executive Chairman and Sagi Cohen will become Group CEO with effect from 21 July 2023.
Over the past four years, Procemsa has grown significantly under Alessandro Sertorio’s leadership as Group CEO,, including:
- Continuing innovation and new product development driven by a strong R&D platform;
- Value-accretive acquisitions in Italy and Germany within the fast-growing and resilient European food supplements market;
- Development of the Group’s highly diversified customer base including large multinationals, nationals and e-commerce brands across Health & Wellbeing, Pharma and Makeup and Skincare; and
- Significant investment in its state-of-the-art production facilities ensuring the highest levels of product quality and manufacturing.
Under Sagi Cohen’s leadership as Group CEO, the senior management will focus on:
- Continued investment in R&D – core to Procemsa’s growth strategy – to fully align with customer-specific business needs;
- Further development of its 360-degree partnership model for customers covering the full contract manufacturing and design organisation (“CDMO”) value chain from idea generation to distribution and logistics;
- Increased geographic diversification from the Group’s strong base in key European markets, particularly Italy and Germany, to expand further across Europe and into other international markets; and
- Additional transformative acquisition opportunities, in particular given potential market consolidation, building on the Group’s successful multinational acquisition and integration track record.
Sagi Cohen was appointed Chairman of the Board of Procemsa in January 2023. He has significant industry experience including senior Board positions at 7-Eleven (convenience retailer), Tnuva (food manufacturing), Aran Packaging (liquid packaging), and Caeserstone (stone manufacturing).
Sagi Cohen, Chairman, commented:
“I would like to pay tribute to Alessandro’s significant contribution to the growth and success of Procemsa. The Group is a multinational CDMO which has successfully undertaken and integrated a number of acquisitions in Italy and Germany over the past three years and invested considerably in its R&D capabilities to develop high quality products and better serve its customers. Alessandro has unrivalled experience of the Group, having worked here for over 20 years. This strategic decision has been taken with full support of all shareholders, and the Board looks forward to his ongoing strategic advice in his new role.”
Alessandro Sertorio, Group CEO, added:
“I am delighted to welcome Sagi as Group CEO. He has demonstrated his considerable experience and clear strategic vision for Procemsa in his position as Chairman of the Board over the past six months. He will continue to work with the management team who have extensive knowledge and experience in the industry. Procemsa has a business heritage of over 80 years, underpinned by a relentless focus on innovation and a track record of strong financial performance which Sagi, along with the team, is well-positioned to grow further.”
Alessandro Sertorio - SEO
Sagi Cohen - Executive Chairman
