EdRip acquires Dimar from Argos Soditic

The GP acquired a majority stake alongside the company's CEO, Paolo Gattafoni and the Mucci family, which will retain a minority stake.

According to unquote" sister publication Mergermarket, Palamon Capital Partners, HIG Capital and Céréa Partenaire took part in the auction process for the business.

The deal is the fourth acquisition in Italy by EdRip, which recently acquired Italian pet food chain Fortesan.

Previous funding
In March 2011, Argos Soditic acquired a majority stake in Dimar via its Euroknights V fund. Centrobanca provided a debt facility of less than 2x EBITDA, according to unquote" data.

Company
Established in 1992 and headquartered in Macerata, Dimar distributes frozen seafood to retail chains across Italy and trades under the name Sapore Di Mare. The company manages 100 stores and generated €80m in revenues in 2016, according to Mergermarket.

People
Argos Soditic – Jean-Pierre di Benedetto (partner); Alessio Manigrasso (managing director); Federica Ferretti (analyst).
Dimar – Paolo Gattafoni (CEO).

Advisers
Equity – NCTM (legal); Newe Deal Advisor (financial due diligence); Essentia (debt); Di Tanno e Associati (tax).
Vendor – GCA Altium (corporate finance); Giovannelli & Associati (legal); KPMG (fiancial due diligence, tax, legal); Di Tanno e Associati (tax).

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