Nem exits food producer HDS

Part of the funding for the acquisition was provided by BPER Banca, Unicredit and BMPS.

Nem (at the time controlled by the subsequently winding-down Banca Popolare di Vicenza) acquired in April 2013 a 13.6% stake in Doreca, which owns HDS, via its Nem Imprese II fund. The remaining holding in Doreca is controlled by Gruppo Tuo, which acquired the company in June 2011 from Gruppo Birra Peroni. Tuo controls Doreca via its two subsidiaries, Saras and Vip Catering, which own 61% and 25.4% in the company respectively.

Swiss investment firm Montana Capital Partners acquired Nem in February 2018 in a deal valued at around €50m. The GP manages three private equity funds: Nem Imprese II, with a volume of €115m; Industrial Opportunity Fund, which raised €131m; and the €30m vehicle Nem Imprese. Nem's aggregate assets under management comes to €276m.

Company
Based in Stradella, near Pavia, HDS specialises in producing and distributing canned and jarred sauces, vegetables and jams. The company was established in 2003 following the merger between canned food producers Robo and Dega. It generated revenues of €30m in 2017, of which around 17% came from outside Italy.

People
Nem – Luca Duranti (managing director).

Advisers
Acquirer – Studio Associato Pellone (tax); Accinni Cartolano e Associati (legal).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• Southern Europe
• Consumer
• Italy
• Trade sale