The private equity firm, Charterhouse Capital Partners invest in Italian food industry. The Britain fund, through its subsidiary Nuova Castelli, took over 100% assets of Alival, in a deal that will create a new group with annual revenues of more than 500 million euros, over 1,000 employees and 20 facilities in Italy for the production, ageing and packaging of cheese. Financial details of the acquisition were not disclosed. Nuova Castelli chief executive Luigi Fici said the deal was financed by a capital increase reserved for its shareholders, led by Charterhouse Capital Partners, the private equity firm that is Nuova Castelli’s controlling shareholder.
Fici said Nuova Castelli is also about to conclude the acquisition of North Coast, a distribution company whose shares are quoted on the Warsaw exchange. “With its distribution warehouse it is capable of covering all of Poland, guaranteeing rapid penetration in a high potential market,” he explained. The Nuova Castelli ceo said that the group is also eyeing other acquisition opportunities and considering a stock market listing, possibily via the Elite programme of the Milan exchange.
In 2013 Alival registered 169 million euro revenues, a slow down compared to 179 million the previous year. Earnings before interest and taxes (EBIT) decreased to 8,7 million euro from the year before.
