The latest news
On Monday, January 15, CVC Capital Partners Fund VIII signed a binding agreement to acquire 100% of La Piadineria from private capital Permira. From what I’ve learned MF-Milano Finanza, the value of the operation is approximately 600 million euros.
La Piadineria is one of the most successful chains in the restaurant market, operating in a fast-growing sector and boasting more than 400 restaurants spread across cities, shopping malls, outlets and retail parks. The recipe designed in the stores is based on the offer of more than 30 types of piadina, prepared from dough entirely produced in the Montirone (BS) factory, which is then cooked and filled on site according to the customer’s wishes. Piadineria has grown rapidly since its inception and today can count on a team of over 100,000 2500 associateswhich serves approximately 70,000 customers daily.
Six years with Permira
Permira funds acquired La Piadineria between late 2017 and early 2018 and fueled its growth path, which has tripled over the past six years. sales what ebitda. In these six years, turnover increased from around 60 million to more than 200 million euros at the end of 2023. In the period under Permira, the chain increased from 160 to more than 400 directly managed sales points, with the team growing from one thousand to around 2,500 co-workers.
Francesco Pascalizi, partner and head of Italy at Permira, said: «We thank Donato Romano, Andrea Valota and the entire La Piadineria team for the exceptional work done to support the company’s growth over the past six years. We are happy to have supported La Piadineria on this journey and are proud that the company is one of the most successful chains in the Italian catering market today.”
The completion of the operation, subject to customary regulatory approvals, is expected in the first half of 2024. CVC was advised by Bain & Co., Oc&C, Alvarez & Marsal, New Deal Advisors, Facchini Rossi Michelutti, PedersoliGattai, Lazard and Jefferies. Permira was advised by Rothschild, Mediobanca, Legance, Bcg, E&Y, Simon-Kucher, Maisto & Associati. (All rights reserved)