Idea buys 33% stake in Lurisia

As part of the deal, the GP acquired a 33% stake in the target's holding company, Acque Minerali, through its 2014 food- and agriculture-dedicated vehicle Idea Taste of Italy, which held a final close €18m above its €200m target.

According to local press reports, the acquisition does not involve a capital increase but saw the two existing investors Eataly and the Invernizzi family, which previously owned a 50% stake each, partially sell their stake to the GP.

According to a statement, the company aims to use the capital injection to expand the business internationally as well as to boost its productivity in the company's plant in Roccaforte Mondovì, in order to double production volumes.

Company
Established in 1940 and headquartered in Roccaforte Mondovì, near Cuneo, Lurisia manufactures, bottles and sells several beverages, including sparkling and still water, tonic water, juices and beers.

According to press reports, the company generated €21.1m in revenues in 2015, with €5.5m EBITDA and €4.6m net debt, up from turnover of €19.5m during the previous year, with EBITDA at €4.5m.

People
Idea Capital Funds – Paolo Ceretti (CEO).
Eataly – Oscar Farinetti (chair).
Acque Minerali – Alessandro Invernizzi (CEO).

Advisers
Equity – Hi.lex (legal); PwC (financial due diligence, tax).
Vendors – 5 Lex (legal); Quagliarella & Associati (legal).

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• Topics
• Expansion
• Consumer
• Southern Europe
• Italy
• DeA Capital
• Idea Capital Funds