Alto Partners acquires Trevisanalat
Alto Partners has acquired Italian mozzarella producer Trevisanalat. The acquisition was completed through the formation of a newco, in which Alto holds a 77.2% stake.
Following the retirement of four out of five of the company's founders, the remaining founder has reinvested to acquire the other 22.8% share.
The investment was made through the Alto Capital II vehicle, which closed in February 2007 on €165m. The fund makes average investments of €10-20m.
Company
Founded in 1980 by five founding partners and based in Resana, Trevisanalat originally operated in the wider cheese and dairy market. In the late 1990s, the company began to specialise in the production of mozzarella through an innovative milk enzyme processing technique. The mozzarella is primarily sold in Italy, with exports counting for 12% of sales.
Trevisanalat employs 79 members of staff at two automated manufacturing plants in northern Italy. In 2011 the company recorded a €57m turnover, a 128% increase on its figures for 2006.
People
Stefano Scarpis, Alberto Trinca and Alice Barberini worked on the transaction for Alto Partners.
Advisers
Equity – LEK Consulting, Giovanni Calia, Filippo Cerrone, Daniele Pugliese (Commercial due diligence); Lombardi Molinari, Dario Spinella, Laura Fiordelisi (Legal); Galvani Audit, Alberto Fioritti, Andrea Mioli, Enea Chersoni (Financial due diligence, tax).
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