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Private Equity: Preziosi Food appeals to Italians and foreigners

First expressions of interest for the company of Melfi: San Carlo, Amica Chips, Pata but also pepsico and Valeo Food

Pressing on Preziosi Food is becoming increasingly intense, after private equity funds Vertis Sgr and Hat Sgr have started the sale of the brand. The first expressions of interest in the Italian food company based in Melfi arrive: among those interested, according to Il Sole 24 Ore, there would be big Italians such as San Carlo, Amica Chips and the Pata Group.

Among the claimants, however, there are also some important foreign groups ready to put on the plate higher multiples to enter the Italian market of salty snacks: among the foreign names stands out pepsico, multinational that already owns the well-known brand of chips La'ys. The Irish company Valeo Foods, which has been part of the private equity portfolio of Bain Capital since 2021 and already has several acquisitions in Europe: the Dublin-based group has more than 50 international brands in its portfolio sold in over 90 countries, including Rowse Honey, Odlums, Batchelors, Jacob’s, Dolciaria Balconi, Kelkin, Dolciaria Val d'Enza. Finally, the German group Intersnack is the third foreign pretender: the snack food company based in Dusseldorf annually produces about 600,000 tons of snacks including French fries, nuts, bakery products and special snacks: it is privately owned (Pfeifer & Langen) and has over 8,000 employees.

As we anticipated, the exploratory mandate was entrusted by the current shareholders to the financial advisor Houlihan Lokey: once all expressions of interest have been collected, The memorandum will be sent with the economic data of Preziosi Food and the submission of non-binding offers. 

The Preziosi Food Group, which until 2016 was part of Giochi Preziosi, has been on sale since mid-December after a process of enhancement started by financial shareholders started last year: in 2023 the company had a turnover of 84 million Euro, growth compared to 50 million Euro three years ago and with a doubling of margins.

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EFA News - European Food Agency