Arcadia buys salmon producer Starlaks

Arcadia bought the company from founders Andrea Balbo, Alex Brustia and Gaudenzio Brustia.

Following the deal, a new management team will be appointed to lead the company, composed of Franco Rigamonti as president; Lelio Mondella as CEO; and Arcadia business partner's Giorgio Mancarella.

The GP intends to boost the company's growth and pursue a buy-and-build strategy by acquiring other Italian companies operating in complementary segments of the fish industry.

A debt package was provided by Banco BPM to support the deal.

The GP has invested in the company via Arcadia Small Cap II, which closed on €80m in May 2019. The vehicle invests in Italian SMEs generating revenues of €10-50m and with a headcount of up to 250.

Company
Established in 2012 and based in Borgolavezzaro, Starlaks Italia specialises in the production of smoked salmon.

The company achieved an EBITDA margin of 12% from revenues of €16m in 2020.

People
Arcadia – Simone Arnaboldi (CEO); Giovanni Barbujani
(investment manager).

Advisers
Equity – NCTM (legal); Long Term Partners (commercial due diligence); Deloitte (financial due diligence); Sicor Service (financial due diligence); Ethica Debt Advisory (debt advisory); Studio Notarile Todeschini & Bastrenta (tax).
Company – Banca Euromobiliare (corporate finance); Raffaelli Segreti Studio Legale (legal).

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• Topics
• Buyouts
• Southern Europe
• Consumer
• Italy