11/2016100%

Casa Optima acquired by Charterhouse

ITALY Food Processing / Ingredients EV €300–700M

Context

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.

Previously, Casa Optima had been acquired in an LBO by Riverside in 2014.

Casa Optima, which reported an EBITDA margin of [members only] in 2016, is valued in this transaction at an EV/EBITDA multiple of 10x–18x, to compare with the average currently observed in the AgriFood sector (11.5x in 2026).

-> Deep-dive in AgriFood market trends

Target

Casa Optima is the global market leader in premium ingredients for artisanal gelato, pastry, and specialized beverage concepts. Headquartered in Italy, the group manages an elite portfolio of complementary, high-heritage brands including Mec3, Pernigotti Maestri Gelatieri, Modecor (pastry decorations), and Giuso. Its robust business model centers on a comprehensive product and service offering, combining the formulation of complex bases, flavorings, and toppings with an international network of training centers (Optima Academy) designed to support artisanal chefs and food service chains.

Ent. Value

€300–700M

Equity Value

[members only]

Multiples

EV / Revenue

2x–6x

EV / EBITDA

10x–18x

EV / EBIT

[members only]

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2016

2015

Other operations with Casa Optima

Other operations with Casa Optima
Date	Acquirer	Target	Country	Sector
09/2025	ADIA	CASA OPTIMA	ITALY	Ingredients
11/2017	CASA OPTIMA	MODECOR ITALIANA	ITALY	Ingredients
02/2014	RIVERSIDE	CASA OPTIMA	ITALY	Ingredients

Other operations with Charterhouse

Other operations with Charterhouse
Date	Acquirer	Target	Country	Sector
07/2026	CHARTERHOUSE / HARWOOD PRIVATE EQUITY	ANIMALCARE GROUP	UNITED KINGDOM	Animal Health
07/2026	CHARTERHOUSE	BATIBIG	FRANCE	Maintenance
12/2025	CHARTERHOUSE	WINBACK	FRANCE	Medical Devices
03/2025	CHARTERHOUSE	ESTYA	FRANCE	Security & Guarding
12/2024	CHARTERHOUSE	METRODORA	SPAIN	Education Providers
01/2024	CHARTERHOUSE	TWO CIRCLES	UNITED KINGDOM	Marketing & Events
07/2023	CHARTERHOUSE	SAGEMCOM	FRANCE	IoT & Connected Objects
07/2021	CHARTERHOUSE	LABELIUM	FRANCE	AdTech
07/2021	CHARTERHOUSE	SIACI SAINT-HONORE	FRANCE	Brokerage
11/2020	CHARTERHOUSE	NOVETUDE SANTE	FRANCE	Education Providers

Similar deals in Food Processing

Similar deals in Food Processing
Date	Acquirer	Target	Country	Sector
04/2017	CERELIA	ENGLISH BAY BATTER	CANADA	Food Products
01/2017	MADEMOISELLE DESSERTS	MINISTRY OF CAKE	UNITED KINGDOM	Bakery / Pastry
11/2016	BRIDGEPOINT	VITAMIN WELL	SWEDEN	Soft Drinks
10/2016	ANHEUSER-BUSCH INBEV (AB INBEV)	SABMILLER	UNITED KINGDOM	Wines & Spirits
10/2016	MEANINGS CAPITAL PARTNERS	COMPAGNIE COLONIALE	FRANCE	Coffee & Tea
09/2016	GROUPE BEL	MATERNE-MONTBLANC (MOM GROUP)	FRANCE	Food Products
09/2016	AMPLIFY SNACK BRANDS	TYRRELLS	UNITED KINGDOM	Food Products
07/2016	DANONE	WHITEWAVE	UNITED STATES	Dairy
06/2016	DANONE	MICHEL ET AUGUSTIN	FRANCE	Food Products
06/2016	ECOTONE	INEOBIO	FRANCE	Coffee & Tea

REFERENCES

Valuation range: EV €300–700M

Revenue range: €100–200M

EBITDA range: €10–30M

EV/Revenue range: 2x - 6x

EV/EBITDA range: 10x - 18x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Casa Optima by Charterhouse are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: casa optima

Acquirer: charterhouse

FAQ

What transaction does this page cover?

This page covers Charterhouse’s acquisition of 100% of Casa Optima, an Italian company specialised in Ingredients, in 2016. This followed a prior holding cycle initiated by Riverside in February 2014, before ownership was subsequently transferred to Adia in September 2025 (see dedicated deal pages for details).

How was the acquisition of Casa Optima by Charterhouse valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the €300–700M band, its EV/EBITDA multiple within the 10x - 18x range, and its EV/revenue multiple within the 2x - 6x range. Exact figures are available to members.

What were Casa Optima’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Casa Optima generated annual revenue estimated in the €100–200M range and EBITDA in the €10–30M bracket (FY 2016). Detailed financial figures are available to members.

How does the valuation of Casa Optima compare to benchmarks in the AgriFood sector?

With an estimated valuation multiple in the range of 10x - 18x in 2016, the transaction reflects historical valuation standards. By way of comparison, in 2026 companies in the AgriFood sector are valued at a multiple of 11.5x EBITDA.

What sources support the information on this transaction?

Transaction data and operational intelligence were compiled from independent financial press reporting by specialized M&A publications.

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