Change Capital Partners takes majority stake in Rossopomodoro

ITALY Hospitality & Leisure / Hospitality / Restaurants / Chains EV €50–150M

Context

Change Capital Partners has finalized the acquisition of Vesevo, the owner of the Rossopomodoro restaurant chain, at an enterprise value of €50–150M. 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 [members only] and an EBITDA of €5–25M 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

€50–150M

Equity Value

[members only]

Multiples

EV / Revenue

[members only]

FREE VIEW

EV / EBITDA

8.5x

EV / EBIT

[members only]

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2010

2009

Other operations with Rossopomodoro

Other operations with Rossopomodoro
Date	Acquirer	Target	Country	Sector
09/2025	SPOON BRANDS	ROSSOPOMODORO	ITALY	Restaurants / Chains
03/2018	OPCAPITA	ROSSOPOMODORO	ITALY	Restaurants / Chains

Similar deals in Hospitality & Leisure

Similar deals in Hospitality & Leisure
Date	Acquirer	Target	Country	Sector
03/2012	OAKTREE CAPITAL MANAGEMENT	FITNESS FIRST	UNITED KINGDOM	Hospitality
09/2011	NAXICAP PARTNERS	SUSHI SHOP GROUP	FRANCE	Restaurants / Chains
01/2011	HIG CAPITAL	LOOPING GROUP	FRANCE	Leisure Facilities
12/2010	FONDATIONS CAPITAL	COURTEPAILLE	FRANCE	Restaurants / Chains
06/2007	LIGHTSTONE GROUP	EXTENDED STAY AMERICA	UNITED STATES	Hotels & Accommodation
03/2007	MERLIN ENTERTAINMENTS	THE TUSSAUDS GROUP	UNITED KINGDOM	Leisure Facilities
02/2006	MONTEFIORE INVESTMENT	HOMAIR VACANCES	FRANCE	Hotels & Accommodation
09/2005	BC PARTNERS	FITNESS FIRST	UNITED KINGDOM	Hospitality
07/2005	COLONY CAPITAL	BUFFALO GRILL	FRANCE	Restaurants / Chains
05/2005	BLACKSTONE	MERLIN ENTERTAINMENTS	UNITED KINGDOM	Parks & Ski Resorts

REFERENCES

Valuation range: EV €50–150M

EBITDA range: €5–25M

EV/EBITDA range: 5x - 12x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Rossopomodoro by Change Capital Partners 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: rossopomodoro

FAQ

What transaction does this page cover?

This page covers the acquisition of a majority stake in Rossopomodoro, an Italian company specialised in Hospitality, by Change Capital Partners in 2011. Ownership has since evolved, leading to a subsequent transaction with Opcapita in March 2018 (see the dedicated deal page for details).

How was the acquisition of Rossopomodoro by Change Capital Partners valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the €50–150M band and its EV/EBITDA multiple within the 5x - 12x range. Exact figures are available to members.

What was Rossopomodoro’s EBITDA at the time of the deal?

At the time of the transaction, Rossopomodoro’s EBITDA was estimated within the €5–25M bracket (FY 2010). Detailed financial figures are available to members.

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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