Alto sells La Suissa to trade

The deal values the company at slightly less than €30m, Unquote understands.

In the majority of cases, the GP typically buys businesses from founders to then sell them to trade. The private equity group was approached by Colussi in a bilateral transaction.

The remaining stake in La Suissa will continue to be held by the Piella family, the founders of the company, a person familiar with the situation confirmed.

Colussi operates several brands of biscuits and pasta – La Suissa represents its first brand related to chocolate.

Alto invested in the chocolate businesses in 2016 via its Alto Capital III fund, which closed in 2013 on €120m. When acquired, the business was generating a €14.4m turnover.

Company
Founded in 1981 and headquartered in Arquata Scrivia, La Suissa manufactures and distributes confectionery products, focusing on chocolate pralines. The business generated revenues of around €17m in 2018, posting an EBITDA of €3.5m. Around 35% of the company's turnover is accounted for by exports, according to a statement by Colussi.

People
Alto Partners – Marco Pellegrino (investment director).

Advisers
Vendor – Vitale & Co (corporate finance); Pedersoli (legal).

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