Orange Capital Development Srl has sharpened its focus on the food sector by acquiring Gelit Srl, a leading Italian producer of frozen ready meals. The deal, executed through its investment arm Wealth Venture Fund SICAR SA, sees Gelit acquired from Consilium SGR Spa, Progressio SGR Spa, and MMM Srl.
The newly acquired company is expected to generate €72 million in revenue in 2024, with an EBITDA of €13 million. Orange Capital’s goal is to nearly double Gelit’s turnover to €130 million within five years. Growth plans include expanding production facilities, launching new product lines, and deepening its penetration into the U.S., its key foreign market. Efforts will also target greater European market share and entry into Asia.
Founded in 1977 and headquartered in Cisterna di Latina, Gelit is both a certified B Corp and a trailblazer in frozen ready meals. Its diverse portfolio spans pasta dishes, crêpes, sweet and savory snacks, and semi-finished products for the HoReCa channel, with a significant international presence underscoring its market clout.
“We are delighted to welcome Gelit to our portfolio,” said Davide Salvatore (pictured), founder and managing director of Orange Capital Development. “We aim to equip CEO Stefano Mattioli and his team with the tools needed to unlock a new phase of growth, built on Gelit’s product quality. By ramping up production capacity and international expansion, we will further cement its leadership, with sustainability, customer satisfaction, quality, and innovation as guiding principles.”