Andera invests in Pusterla 1880

The GP deployed capital via Winch Capital 4, which closed on €445m in December 2018, only a few months after Andera spun off from Edmond de Rothschild. The fund invests in mid-market company primarily based across France and Italy, with the possibility of making occasional investments in neighbouring countries such as Belgium, Switzerland and Spain.

Pusterla 1880 is the 10th investment made by the fund and its first deal in Italy. Andera intends to support the company in consolidating its market position, further expanding across Europe and pursuing a buy-and-build strategy.

Company
Headquartered in Venegono, near Varese, Pusterla 1880 specialises in producing packaging for the luxury goods industry, primarily for the perfumes, fashion, jewellery, wine and liqueurs segments.

Employing 1,000 staff across its production facilities located in Italy, France, the UK, Moldova and Tunisia, the company generates annual revenues of around €130m.

People
Pusterla 1880 – Roberto Marini (CEO); Luca Meana (president).
Andera Partners – Pierre-Yves Poirier, Antoine Le Bourgeois (partners).

Advisers
Equity – GCA Altium (corporate finance).
Company – EY (financial due diligence); DGPA & Co (corporate finance). 

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• Topics
• Expansion
• Southern Europe
• Industrials
• Andera Partners
• Italy
• EY (Ernst & Young)