Finint buys bakery Panificio San Francesco

As part of the deal, the management team will retain a minority stake in the business. Finint plans to expand the company's production across complementary sectors in the food industry.

Finint acquired its stake in the business through its third private equity fund, Nord Est Investment Partners III (NEIP III).

The vehicle raised a total of €75m and currently manages four companies in its portfolio: machinery producer ABL; elevator and chairlift manufacturer Vimec; frozen baked goods producer Forno d'Asolo; and Nuova Giungas, which specialises in isolation products. More recently, the fund sold its stake in Lafert, an electrical component manufacturer.

According to press reports, the GP intends to launch a new vehicle in 2017, which will also target Italian SMEs.

Company
Founded in 2005 and headquartered in Pavia, Panificio San Francesco produces a variety of breads. It employs a staff of 50 and generated €18m in revenues in 2015.

People
Finint & Partners – Enrico Marchi (chair); Domenico Tonussi (managing partner).

Advisers
Equity – Eversheds (legal); KPMG (financial due diligence, tax); Long Term Partners (commercial due diligence).
Company – Studio Legale Gambino Repetto & Partners (legal); Studio Spada & Partners (tax); Corus Corporate Finance (M&A).

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• Topics
• Buyouts
• Consumer
• Southern Europe
• Italy