Investindustrial di Andrea Bonomi invests 200 million in Eataly and aims to acquire the majority of 52% of the group founded by Oscar Farinetti in 2003. The agreement is aimed at supporting the international growth of Eataly – present in 15 countries with 44 stores -, a reality symbol of Made in Italy food and the excellence of Italian food and wine through two main channels, the sale of high-end Italian food products and the network of quality restaurants all over the world.
The structure of the transaction envisages, as a joint communication discloses, a capital increase of 200 million and a concomitant purchase by Investindustrial of a part of the shares held by existing shareholders, “to bring Investindustrial to hold the majority of the Company” . In particular, the transaction requires Investindustrial to hold 52% of the share capital at closing. The remaining 48% of the capital will remain in the hands of the historical shareholders Eatinvest (Farinetti family), the Baffigo / Miroglio family and Clubitaly (Tamburi Investment Partners).
The capital increase eliminates the company’s financial debt and ensures flexibility and resources to accelerate the expansion plan on a global scale.Eataly will maintain its business model and support for export channels of excellent products, both through the expansion of flagship stores on a global scale, both thanks to the development of new formats.
Nicola Farinetti, the current CEO, will take on the position of president while the company, which today records revenues of around 600 million, will announce the name of the new CEO. The new development plan provides for the opening of a new network of flagship stores, also thanks to new store formats in the big cities. The growth project of Eataly foresees that the company, which has its headquarters in Monticello D’Alba, province of Cuneo, remains in Italy, where it was born, and aims for strong growth in foreign markets starting from the United States, where it is already present with 8 flagship stores, with an important development in the Middle East and Asia, where the Group is currently present with 16 franchised stores.
Investindustrial has extensive experience in the food sector, a sector in which it has recently invested over 2.5 billion euros “to support the development of various historical Italian and foreign companies on various channels: the private label, through La Doria, producer European legumes, peeled tomatoes, tomato pulp and fruit juices and the food preparation division of TreeHouse Foods (USA), recently acquired; the ingredients, through CSM Ingredients, Italcanditi and Hi-Food to which Parker Food Group (USA) has recently been added; finally, catering, through the Dispensa Emilia restaurant chain.