Change Capital Partners takes majority stake in Rossopomodoro
Context
Change Capital Partners has finalized the acquisition of Vesevo, the owner of the Rossopomodoro restaurant chain, at an enterprise value of . The new shareholder structure assigns roughly 63 % of Vesevo’s capital to Change Capital, 30 % to the founding partners, and 7 % to Quadrivio Sgr, which reduced its holding from 47 %. The transaction was advised financially by Fineurop Soditic for Change Capital and by Banca Imi for Vesevo and Quadrivio, while legal counsel was provided by Labruna Mazziotti Segni and by Ambrosini Pecora together with Dewey & LeBoeuf. Vesevo operates 113 restaurants in Italy and eight abroad, under the Rossopomodoro, Anema e Cozze and Rossosapore brands. The company reported revenue of and an EBITDA of for the 2010 fiscal year, implying an EV/EBITDA multiple of 8.5x. The new ownership plans to triple the number of restaurants and take‑away points over the next five years, emphasizing organic openings in the domestic market and an accelerated rollout internationally. This transaction represents Change Capital’s second investment through its CCP II fund, reinforcing its strategy of consolidating mid‑market food‑service assets across Europe.
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Target
Founded in 1998 in Naples, Rossopomodoro operates a network of Neapolitan pizzeria restaurants that combines franchised and company‑managed outlets. The concept centres on authentic Neapolitan pizza prepared by trained pizzaioli, complemented by a limited range of pasta and appetizers, and relies on high‑quality raw materials sourced from Italian and Campania suppliers. The chain serves both casual‑dining guests and quick‑service customers, positioning itself as an authentic Italian food experience for consumers seeking traditional pizza in urban and tourism‑driven locations. Expansion has been pursued through new openings in flagship venues and through a partnership model that leverages local operators to replicate the brand’s standards abroad. Rossopomodoro’s business model generates revenue primarily from restaurant sales and franchise fees, while maintaining strict control over product quality and brand image across its international footprint.
Ent. Value
Equity Value
Multiples
EV / Revenue
FREE VIEW
EV / EBITDA
8.5x
EV / EBIT
Historical Financials (EUR)
Other operations with Rossopomodoro
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 09/2025 | Spoon Brands | Rossopomodoro | ITALY | Restaurants / Chains |
| 03/2018 | OPCAPITA | Rossopomodoro | ITALY | Restaurants / Chains |
REFERENCES
Valuation range: EV 50M - 150M EUR
EBITDA range: 5M - 25M EUR
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Target: rossopomodoro