L Catterton backs food supplement specialist IAF Store

The GP bought a majority stake, while the company's founder Alessandro Coradi retained the remaining minority.

With this investment, L Catterton intends to support IAF's growth and its expansion in the Italian online supplements market.

Financing for the transaction was provided by Antares AZ I, a private debt fund managed by Azimut Libera Impresa.

According to Unquote's sister publication Mergermarket, IAF mandated Ethica Corporate Finance to handle the sale process in January 2020. The company attracted the interest of numerous bidders, including Trilantic Capital Partners, Aksia and Investindustrial, but gave exclusivity to L Catterton in May.

Company
Founded in 2007 and based in Brescia, IAF is an online retailer of food and dietary supplements, protein bars, energy drinks, organic and healthy food and over-the-counter drugs and treatments. The company has recently launched Yamamoto, its own brand of food supplements and nutritional products dedicated to fitness enthusiasts and athletes.

People
L Catterton Europe – Luigi Feola, (managing partner).
IAF Store – Alessandro Coradi (co-founder).

Advisers
Equity – Ommax (commercial due diligence); KPMG (financial due diligence); NCTM (legal); Malk Partners (ESG due diligence).
Company – Ethica Corporate Finance (corporate finance); Allen & Overy (legal).

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