Equinox conquers Salpa ice cream cookies
63% to the private equity fund for international expansion
Equinox has acquired the majority of the Salpa Group. The private fund, through the IceGreen S.à.rl vehicle, now holds 63% of the capital of the Perugian company, world leader in the production and distribution of high quality ice cream biscuits, gluten-free bakery products, chocolate, inclusions / toppings for ice cream and yogurt, as well as in breadcrumbs. Founded in 1934 in San Giustino, in the province of Perugia, in the central of Italy, by the Cherubini family, today the Salpa Group - thanks to the quality of its products - supplies the major multinational groups of ice cream and yogurt producers and some of the most renowned national and international confectionery groups. With three production plants owned and over 190 employees, the Salpa Group has recorded constant growth over the years that has led it to reach a consolidated turnover of 36 million euros, with an Ebitda of over 25%. With the entry of Equinox in the capital, the Cherubini family will remain the remaining 37% and the management team will continue to manage the Group. In particular, the general manager Stefano Cavallari, who has been with Salpa for eight years, will take on the position of CEO, while the other managers, Marco Burattini, Chiara Burattini and Francesco Cherubini , will continue to hold the role of Head of Research and Development respectively, responsible for "Supply Chain" and responsible for Production and production sites. Maria Rita and Abramo Cherubini , children of the founders Domenico and Maria Rosetta Cherubini, in addition to remaining shareholders, will sit on the board of the parent company. "We are proud that the Cherubini family has chosen Equinox as a partner for the development of the Salpa Group, a case of industrial excellence of Made in Italy", commented Angelo Facchinetti , partner of Equinox, "its products are highly recognizable on the market and the company is ready to embark on a path of further expansion also thanks to the professionalism of the management team, advanced production technologies and a research and development capacity oriented towards continuous product innovation and optimization of production processes".
"The entry of Equinox - he explained - is aimed at strengthening market leadership and commercial penetration in countries with high growth rates and development potentials such as: the USA, Eastern Europe and some markets in the Apac area. It will also be developed a growth strategy for external lines".
To date, the Salpa Group achieves 65% of its sales on the domestic market, while the main markets abroad are represented by Sweden, Spain and the United Kingdom. “The opening of the capital represents a new step for the growth of Salpa which already today, thanks to the innovation and quality of its products, represents a point of reference for the most important companies in the confectionery sector. With our high technological level we can create industrial products in the bakery world of any format, with even complex designs and logos - comment Maria Rita and Abramo Cherubini -. We are very satisfied with the partnership reached with Equinox which will allow the Group to continue to grow and maintain its international leadership; together with the management team we have important objectives of expansion and value creation and we have chosen to share this project with Equinox because we believe in its industrial and business approach”.
EFA News - European Food Agency