Private equity firm to acquire majority stake in Italian food chain Eataly

ITALY- Italian restaurant, food and retail group Eataly has signed an agreement with investment company Investindustrial, securing funds to continue the brand’s international growth.

As part of the agreement, Investindustrial will invest 200 million euros (US$194 million) and acquire additional shares from current shareholders with the aim of raising total shareholding to 52%.

Existing shareholders Eatinvest (Farinetti family), the Baffigo/Miroglio family, and Clubitaly (Tamburi Investment Partners) will split the remaining 48% of the shares.

Eataly will be able to settle its net financial debt with this investment in addition to opening new flagship locations and creating new concepts.

The luxury food retailer also intends to increase its presence in North America as part of its goals for worldwide expansion.

“This partnership will allow us to strengthen our unique format worldwide, promote innovative projects related to innovation and enhance our capabilities,” Eataly CEO Nicola Farinetti said in a statement.

She noted that Investindustrial shares Eataly’s values and vision and has chosen to support them in achieving their goal to be the Italian ambassador for ‘Made in Italy’ around the world.

As part of the deal, Farinetti — the son of Eataly founder Oscar Farinetti — will become chairman of Eataly.

The company plans to name a new CEO “with the mission of leading the company into its next phase of growth on a global scale,” according to the release.

Now, Eataly has over 40 sites spread over 15 different countries, including eight flagship stores in North America and 16 franchise stores spread throughout Europe, the Middle East, and Asia.

Eataly represents a unique and innovative player that has led the revolution of the concept of high-quality Italian food all over the world.

Investindustrial is a leading European group of independently managed investment, holding and advisory companies with €11 billion of raised fund capital.

The firm, which has stakes in brands including fashion house Ermenegildo Zegna and Italian food producer La Doria has recently invested over 2.5 billion euros into the food industry.

The company has extensive experience in the food industry, specifically in Italian companies.

It has investments in private label producers, ingredients companies and hospitality businesses, including, Italcanditi and the Dispensa Emilia restaurant chain.

Andrea C. Bonomi, Chairman of Investindustrial’s Advisory Board, said “Eataly represents a unique and innovative player that has led the revolution of the concept of high-quality Italian food all over the world.”

He added that the collaboration between Investindustrial, the Farinetti family, the Baffigo/Miroglio family and Clubitaly (TIP) is focused on supporting Eataly’s next stage of growth, preserving its unique DNA, and maintaining its profile of sustainability, supply chain control and integrity.

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