Quadrivio backs wine specialist Prosit

The GP deployed a €6m equity investment in exchange for an 80% stake in Prosit, Unquote understands. The investment was used to acquire a 51% stake in two wine producers, Torrevento and Collalbrigo.

Quadrivio intends to invest an additional €19m in Prosit to support its acquisition of six more wine producers with the aim of building an aggregation platform in the Italian wine sector. The new group will reach turnover of around €100m with an EBITDA margin of 15-20% by 2023, according to the GP.

The GP invested via its Made in Italy Fund, which was launched in October 2018 with a €200m target and has raised around €100m so far. The vehicle acquires majority stakes in Italian SMEs operating in the fashion, design, beauty and food industries, with annual revenues of €10-50m. It deploys equity tickets of €10-20m and follows a conservative approach to the use of leverage in its transactions, never exceeding 3x EBITDA.

Unquote understands that Quadrivio has raised €150m so far and deployed 20% of its fund. It expects to hold a final close in the first quarter of 2020.

Company
Prosit controls two wine producers, Torrevento and Collalbrigo, which make red and white wines and prosecco with the IGP, DOC and DOCG quality labels.

Founded in 1989 and based in Corato, Torrevento reported EBITDA of around €1.8m from revenues of €12m in 2018. Collalbrigo was established in 1984 in Conegliano and generates EBITDA of approximately €750,000 from revenues of €5m.

People
Quadrivio – Walter Ricciotti (CEO).
Prosit – Sergio Dagnino (CEO).

Advisers
Equity – Pedersoli Studio Legale (legal).
Company – DLA Piper (legal).

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

• Topics
• Expansion
• Southern Europe
• Consumer
• Quadrivio
• Italy
• DLA Piper