Gelit SpA

Following its second close on E74.1m (page 5), Consilium’s first fund has acquired frozen food business Gelit SpA from sector group Barilla. Centrobanca provided a leveraged finance facility for the deal. With the disposal of Gelit, Barilla has exited the frozen food business in order to focus on its core business of ‘primo piatto all’italiana’ (Italian-style first courses), as well as on the international growth of its Barilla and Voiello brands for pasta and sauces.

Company

Gelit was founded in 1977 and employs 120 staff. The business, headquartered in Cisterna di Latina, on the outskirts of Rome, is a producer of frozen ready-to-heat meals. The company reported a turnover of E24m in 2006. Its client base comprises several leading retail chains in Italy and abroad. After the completion of the deal in late May, Consilium will kick-start its business plan, which encompasses sector consolidation in Italy and support of the company’s development abroad. Gelit will aim to achieve this by further developing its production facilities and technical know-how.

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