Fondo Strategico and Qatar Holding back Inalca

Following completion of the transaction, the company will look to expand through an organic and acquisitive growth strategy. It intends to capitalise on and promote the Made in Italy food brand, and in turn increase its share of the export market.

The deal consists of €115m of fresh capital for the company and €50m for a 28.4% stake.

Cremonini, an Italian company specialising in food production, food distribution and catering services, will retain a 71.6% stake after previously being the sole owner.

FSI stated Cremonini could sacrifice further minority stakes to fund further expansion of the business.

IQ Made in Italy has an initial sum of €300m to invest, which could be extended to a maximum of €2bn. The vehicle launched in March 2013.

Company
Founded in 1963 and headquartered in Modena, Inalca is a provider and distributor of meat products. It has a headcount of around 3,000 and – in addition to the Inalca brand – also operates under the Montana, Italia Alimentari, CorteBuona and Ibis Salumi brands.

In 2013, Inalca generated a turnover of €1.56bn with EBITDA of €124.9m. The business has an international distribution network, with most of its exports going to the Russian and African markets.

People
Maurizio Tamagnini is managing director of FSI. Vincenzo Cremonini is managing director of Cremonini.

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• Topics
• Expansion
• Consumer
• Southern Europe
• Italy
• Fondo Strategico Italiano
• Unq2015Jan