Aksia buys frozen pizza maker Valpizza

Following the deal, the company’s founder Vanes Biagi will retain a 20% holding, while newly appointed CEO Marco Setti will invest in the business in exchange for a minority stake.

This the second acquisition made by Aksìa Capital V, following its investment in dental clinics business Primo Group, which was acquired by the GP from Archimed in October 2019.

The fund targets European businesses with potential for high growth and international expansion, generating EBITDA of €4-25m from revenues in the €20-120m range. It deploys equity tickets in the €15-25m bracket and applies moderate leverage of around 2.5-3x.

The GP intends to boost Valpizza’s growth, consolidate its market position, and pursue a buy-and-build strategy. The company also plans to build a new manufacturing facility, which will double its production capacity.

Company
Established in 1992 and based in Valsamoggia, near Bologna, Valpizza specialises in making frozen pizza base and topped pizza, with a production of around 30 million pieces per year.

The company generated EBITDA in excess of €4m from revenues of around €20m in 2019.

People
Aksìa Group - Marco Rayneri (managing partner).
Valpizza - Marco Setti (CEO); Vanes Biagi (chair).

Advisers
Equity - Giliberti Triscornia e Associati (legal); Russo De Rosa Associati (tax); EY (financial due diligence).

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• Topics
• Buyouts
• Southern Europe
• Consumer
• Aksia Group
• Italy
• EY (Ernst & Young)