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CASA OPTIMA

Acquired by

ADIA

ITALY Food Processing EV [500m EUR - 1b EUR] 09/2025

Target

CASA OPTIMA

Acquirer

ADIA

Context

Charterhouse Capital Partners agreed to sell Casa Optima to a group of investors led by Terlos (ADIA). The transaction represents a 2.6x return for Charterhouse. The strategic rationale for Terlos is to capitalize on the continued "premiumization" of the artisanal gelato market and use Casa Optima as a platform to double its size through further international expansion and consolidation. The deal follows a period of intense value creation including a scientific pricing strategy, the integration of four major acquisitions, and a total revamp of the commercial organization.

This transaction is part of the AgriFood industry, which currently tracks an average EBITDA multiple of 10.1x since the beginning of 2026, 9.8% decrease compared to 2025. This data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

-> Deep-dive in AgriFood market trends

Target

Casa Optima (formerly MEC3) is the world leader in the production of ingredients and semi-finished products for artisanal gelato and pastry.

Ent. Value

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Equity Value

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Multiples Analysis

EV / Revenue

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EV / EBITDA

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EV / EBIT

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Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2025
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2024
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Other operations with CASA OPTIMA

DateAcquirerTargetCountrySectorDeal Context
11/2017CASA OPTIMAMODECOR ITALIANAITALYIngredients

MEC3, backed by Charterhouse Capital Partners, acquired a controlling stake in Modecor Italiana. The transaction allows MEC3 to diversify its offering beyond gelato ingredients into the complementary pastry decoration market. Modecor retains its operational inependence and brand identity and the CEO is continuing to lead the company. The deal creates significant commercial synergies, as both companies sell to the same customer base (pastry shops and gelato parlors).

11/2016CHARTERHOUSECASA OPTIMAITALYIngredients

Charterhouse Capital Partners acquires Optima / Mec3, a global leader in artisanal ice cream ingredients with a 12% market share, in a deal valued at an estimated EUR400 million, outbidding Permira, Cinven, Carlyle, and Froneri (Nestle/R&R). Charterhouse is investing through its EUR2.3 billion Fund X, marking its third Italian deal in three years.

02/2014RIVERSIDECASA OPTIMAITALYIngredients

The Riverside Company acquired Optima / Mec3, a leading developer, manufacturer, and marketer of ingredients for gelato, pastry, and other foods. Riverside aims to support management, drive global growth, and invest in R&D to maintain Mec3's reputation for innovation. The founder expressed confidence in Riverside's ability to build on Mec3's 30-year legacy and Italian heritage. Riverside emphasized the company's unique position in the growing global market for high-quality artisanal gelato.

mynth data is contributed by M&A / PE professionals and systematically cross-verified against private deal documents and official releases. All source materials are destroyed post-validation to guarantee data anonymity and compliance.