illycaffè: Rhône Capital acquires minority stake
Completion of the transaction expected by the end of the first quarter of 2021
Illycaffè Spa has announced the entry into its capital with a minority stake in Rhône Capital, a global private equity company with a focus on investments in companies with a pan-European, North American or transatlantic presence. Rhône was chosen, after a selection process lasting more than a year, with a view to supporting the international expansion of the company, particularly in the United States, and, in general, the implementation of the company's growth plans. The size of the investment has not been made public, but according to what Corriere della Sera writes it would be a figure of the order of 200 million euros, for a 20% stake in the company.
Andrea Illy, president of illycaffè, declared: “We have chosen Rhône as a travel companion for the next phase of growth based on their deep experience in building strategic partnerships with family businesses and for their ability to fully understand our distinctive positioning and premium based on qualitative excellence but also our heritage and our sustainable business model. I firmly believe that the partnership will lead us to realize our dream of offering the best coffee in the world, which remains the foundation of our company and the indispensable vision we continue to have for the future. " Massimiliano Pogliani, CEO of the company added: "I am enthusiastic about their entry for the contribution they will be able to make to the board of directors thanks to their proven experience in supporting the implementation of strategic plans and in particular digital transformation initiatives, a very important and even more relevant lever for us in ' current market context ".
Robert Agostinelli, co-founder and managing director of Rhône, said the company was attracted the quality of the Trieste-based company's business, its approach to creating value and its impeccable ethical standards, which are reflected both in corporate governance and in the commitment to sustainability.
The transaction is expected to be completed by the end of the first quarter of 2021, subject to customary regulatory approvals. illycaffè was assisted in the transaction by Goldman Sachs International, Sabelli Benazzo studio and Gattai, Minoli, Agostinelli and Partners studio. Rhône was advised by Credit Suisse, Chiomenti law firm and Paolo Montironi.
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