News
Investindustrial acquires 63% of La Doria for 323 million euros
According to the official joint press release issued on 27 October 2021 by Amalfi Holding S.p.A. and the Ferraioli Family, Amalfi Holding S.p.A., an investment company indirectly owned by Investindustrial VII L.P., has signed a purchase agreement for the acquisition of 63.13% of the share capital of La Doria S.p.A. A number of members of the Ferraioli family, currently La Doria’s main shareholder, shall reinvest and remain on as minority shareholders
Investindustrial VII is managed by the British company Investindustrial Advisors Limited. The investment strategy of Investindustrial VII L.P. and its investment companies focuses mainly on European “mid-market” companies operating in four main sectors: consumer & leisure, industrial manufacturing, healthcare and services, and technology, providing industrial solutions and capital to top-tier enterprises.
In accordance with the Agreement, the Closing is subject to obtaining, at the latest within 6 months from October 27, 2021, all of the legal authorizations and approvals necessary, including those authorizations required by the respective anti-trust authorities.
These conditions are expected to be satisfied by January 2022, with the Closing taking place by the end of January 2022. On Closing, a new La Doria Board of Directors will take office, in view of the fact that the present board members have resigned.
Andrea C. Bonomi, Chairman of the Industrial Advisory Board of Investindustrial, stated: “La Doria represents the perfect synthesis of the type of investments which Investindustrial prefers: mid-sized family businesses in a strategic and fast-growing sector, such as food, where Italy demonstrates global excellence and in which Investindustrial can play a leading role with a particular focus on sustainability, an area which has been always central to our thinking. We wish to support La Doria through a shared growth project which will develop over the years and a major investment which will further consolidate its leadership in the food & beverage sector, in addition to boosting the enterprise’s international positioning through the penetration of new markets and distribution channels”.
Antonio Ferraioli, one of the current shareholders involved in the shareholder agreement and Chairman of La Doria S.p.A., stated: “This transaction is a great opportunity for the Company and its employees, bringing about a new phase focused on further growth, both organically and through potential acquisitions. La Doria over the last 40 years has consistently grown, becoming a European leader in its market segments and the expected entry of Investindustrial is part of our development strategy and will allow the Company to further expand its range of operations, becoming a platform for consolidation within its sector.
I am very pleased to begin this new journey with a partner that has set itself very ambitious goals, while ensuring continuity for the management team (including my role as CEO) and stability for all employees. The Ferraioli Family firmly believes in the Group's potential and will continue to be actively involved in the Company’s management. This is demonstrated by the fact that a number of the current shareholders will maintain a significant holding".
I am very pleased to begin this new journey with a partner that has set itself very ambitious goals, while ensuring continuity for the management team (including my role as CEO) and stability for all employees. The Ferraioli Family firmly believes in the Group's potential and will continue to be actively involved in the Company’s management. This is demonstrated by the fact that a number of the current shareholders will maintain a significant holding".
The complete joint press release is available at:
https://www.gruppoladoria.it/medias/2609-cssigning27ott2021ingdef.pdf
Sources: gruppoladoria.it, amp24-ilsole24ore-com, bebeez.it
