Vertis buys Preziosi Food

The management team of Preziosi and its existing majority shareholder Enrico Grani will acquire the remaining 42.9% stake in the newco. Italian lenders Banca Popolare d'Emilia Romagna and Banca Popolare di Milano provided a debt facility to support the transaction.

According to press reports, the deal valued the company in the region of €30m.

Company
Preziosi food was founded in 2008 and is headquartered in Melfi, Italy. The company produces sweet and salted snacks via the Dolci Preziosi and Salati Preziosi brands.

According to press reports, the business generated a turnover of €57.3m and €1.9m of EBITDA in 2015.

People
Vertis – Amedeo Giurazza (CEO); Renato Vannucci, Paolo Santoro (partners).
Giochi Preziosi – Enrico Preziosi (chair).
Preziosi Food – Enrico Grani (chair); Donato D'Alessandro, Vito Spada (CEOs).

Advisers
Equity – Accinni Cartolano e Associati (legal); EY Transaction Services (tax); EY Advisory Services (commercial due diligence); EY CICAS (environmental due diligence); EY Studio Legale e Tributario (legal).
Vendor – Arietti & Partners (M&A); LMCR (legal).
Company – Arietti & Partners (M&A).
Management – Studio Legale Pedersoli e Associati (legal).

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• Topics
• Buyouts
• Consumer
• Southern Europe
• Italy
• Vertis