An industrialist invested in Italy, a world heritage Italian restaurant and food retail group, to boost international expansion

An industrialist invested in Italy, a world heritage Italian restaurant and food retail group, to boost international expansion

New York–(work wire) – A subsidiary of Investindustrial VII LP (“Investindustrial”) and Eataly SpA (“Eataly”, “Company” or “Group”)” have signed an agreement to support the international growth of Eataly, the ambassador of ‘Made in Italy’ food, which has been For nearly 20 years it has been promoting the sale of high quality Italian food products and restaurant concepts in prestigious locations globally.

The transaction provides for an investment of €200 million and a simultaneous purchase by Investindustrial of a portion of the shares held by existing shareholders, which will result in Investindustrial becoming the majority shareholder. The deal states, upon closing, that Investindustrial will own 52% of the company, with existing shareholders Eatinvest (the Farinetti family), Baffigo/Miroglio family and Clubitaly (Tamburi Investment Partners) owning the remaining 48% of the company. The investment will allow Eataly to retire from net financial debt and increase the financial flexibility of the group’s global expansion plans.

Eataly operates according to a sustainability philosophy that aims to provide continuous support to local agri-food supply chains and to export premium food products. The capital injection reinforces the company’s role as a global ambassador for “Made in Italy” food excellence by opening flagship stores and developing new formats, as well as enabling the acquisition of all minority stakes in Italy’s existing US business.

Nicola Farinetti, who is currently CEO, will take over as the company’s chairman. A new CEO will be announced soon with the mission of leading the company into its next phase of growth on a global scale.

The Investindustrial, Farinetti family, Baffigo/Miroglio family and Clubitaly (TIP) intend to continue to support business development, by opening new flagship stores and new formats in large cities, as well as continuing along the path of sustainability that has marked Italy since its inception.

Italy’s growth will be supported by Investindustrial’s deep knowledge of the food sector and its presence in the Italian, European, North American and Asian markets. Headquartered in Italy, Eataly will continue to expand into overseas markets such as North America, where it is already active with 8 flagship stores, and through continued development in Europe, as well as the Middle East and Asia, where the group has 16 franchise stores.

Investindustrial has extensive experience in the food sector, having recently invested more than 2.5 billion euros in it. To date, Investindustrial investments support the global development of many historic and innovative Italian companies focused on three sectors: (1) private-brand food products, such as La Doria, the leading European producer of legumes, peeled tomatoes, tomato sauce and fruit juices; , the meal preparation business of Treehouse Foods; (2) ingredient companies, such as CSM Ingredients, Italcanditi and Parker Food Group, food technology companies such as Hi-Food, and (3) hospitality, through the Dispensa Emilia restaurant chain.

Andrea C. BonomiChairman of the Industrial Investment Advisory Council said:We are pleased to be able to support Italy, an example of Italian excellence in the world, as a long-term partner. With the vision and pioneering ability of the Farinetti family, Eataly is a unique and innovative player who has revolutionized the concept of high-quality Italian food throughout the world. We look forward to supporting Italy by leveraging our deep experience in helping companies grow globally according to the highest standards of environmental, social and corporate governance and sustainability principles. The collaboration between the Investindustrial, Farinetti family, Baffigo/Miroglio family and Clubitaly (TIP) focuses on supporting the next phase of Eataly’s growth, preserving its unique DNA and upholding its image of sustainability, supply chain control and integrity. “

Nicola FarinettiCEO of Eataly, commented: “The agreement we have signed launches a strategic partnership that will propel Itali into a new phase in its history, by accelerating its international growth. This partnership will allow us to enhance our unique form around the world, encourage innovative projects related to innovation and enhance our capabilities. We are pleased to take this new path along with Together with a reputable partner like Investindustrial, who shares Eataly’s values ​​and vision, he has chosen to support us in achieving our goal of being the Italian ambassador for “Made in Italy” around the world. With greater confidence and momentum, reinforced by our history and a continuation of the results achieved so far thanks to the work of all the global Eataly team individuals.”

He advised Investindustrial consulting: Studio Legale Chiomenti, Kirkland & Ellis as legal advisor, Deloitte as accounting and tax advisor, Boston Consulting Group business due diligence, and UniCredit as financial advisor. Investindustrial is also supported by Ramboll (Environment, Health and Safety) and WTW (Insurance).

Eataly was supported by Studio Legale e Tributario Fivelex, for legal aspects of Italian law, as well as by Tarter Krinsky & Drogin LLP, Danow, McMullan & Panoff, PC and Olshan Frome Wolosky LLP, for legal matters in the United States, as well as Biscozzi Nobili Piazza in Italy for tax issues.

About industrial investment

Investind industrial is a leading European group of independently managed investment holding and advisory companies with a raised capital of €11 billion. Deeply integrating ESG principles into the company’s core approach, Investindustrial has a history of more than 30 years providing mid-market corporate capital, industry expertise, operational focus and global platforms to accelerate sustainable value creation and international expansion. Some IIG companies are licensed and subject to the regulatory supervision of the Financial Conduct Authority (FCA) in the United Kingdom and the CSSF in Luxembourg. Industrial investment investment companies operate independently of each other and of each industrial investment fund.

Additional information is available at www.investindustrial.com

About Italy

Eataly, founded by Oscar Farinetti in 2003, focuses on providing high-quality, sustainable products for everyone. Italy is the world’s largest Italian retail and dining experience, transforming the way consumers enjoy Italian food, drink and culture through markets, counters, cafes, restaurants and educational offerings. Italy currently has 44 stores in 15 countries, including Italy, the United States, Canada, the United Arab Emirates, Japan, Germany, Great Britain, France, Sweden and Brazil. It is carrying out an important plan for new openings in some of the world’s major cities. The group, which is headquartered in Monticello d’Alba (Cuneo), is expected to have a turnover of around 600 million euros by 2022.

Additional information is available at www.eataly.net

Investindustrial Advisors Limited is registered in England and Wales with registered address at 16 Palace Street, London SW1E 5JD and company number 01316019. Investindustrial Advisors Limited is authorized and regulated by the Financial Conduct Authority in the United Kingdom (Financial Services Register Number: 170924).

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