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CLARA MOSCHINI

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PE ready for the assault of Preziosi Food?

Rumors of interest for the company: in pole position Dea Capital and Italian Investment Fund

The rumors multiply of how many, between industrial operators and private equity, seem interested in Preziosi Food, the group of salty snacks. Although the sale process has not yet been officially launched by the two private equity companies Hat and Vertis, current majority shareholders with 57,13% of the shares, several international industrial operators and investment funds are considering participating in the auction as soon as it starts. 

Among the protagonists in pole position, as reported by Mf today, there would be Dea Capital and Fondo Italiano d'Investimento through the vehicle Fondo Italiano Agri & Food. Other candidates for the enchantment are Italian strategic groups such as San Carlo and international as PepsiCo (which markets Lay’s chips), the Irish Valeo Foods and the German Intersnack.

From what comes an appeal of this size is soon said. In primis, from the history of the society, from 2016 in head to the two private equity, Hat and Vertis, that they have taken over the company from the then patron of the Genoa Enrico Preziosi, for an enterprise value of little advanced to the 30 million Euros, supporting it in the first three years and exit from the debt restructuring process. 

In 2017, a rescue process was started with the sale (in 2019) of the subsidiary Dolci Preziosi to Cerealitalia, starting a path of growth that, also under the leadership of President and ceo Lorenzo Caporaletti in 2020, has brought the group to reach 86 million Euros of revenues in 2023, from 50 million of 2022, for an ebitda of approximately 8,6 million, with a margin therefore of 10% slightly above the average of field. Global salty snack market worth over 250 billion dollars.

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EFA News - European Food Agency
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