At what enterprise value was FORNO D’ASOLO acquired in 2018?

During the acquisition of FORNO D’ASOLO by BC PARTNERS in 2018, the transaction's Enterprise Value is estimated to be in the range of 300M - 700M EUR.

What was the EV/EBITDA of FORNO D’ASOLO when it was acquired by BC PARTNERS?

The estimated EV/EBITDA multiple for FORNO D’ASOLO is in the range of 10x - 18x.

When was FORNO D’ASOLO acquired by BC PARTNERS?

FORNO D’ASOLO was acquired by BC PARTNERS in 2018.

What was the revenue of FORNO D’ASOLO at the time of the deal?

The revenue of FORNO D’ASOLO at the time of the deal is estimated to be in the range of 100M - 200M EUR.

What was the EBITDA of FORNO D’ASOLO during the acquisition?

FORNO D’ASOLO's EBITDA is estimated to be in the range of 10M - 30M EUR.

How is the data for the FORNO D’ASOLO acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the FORNO D’ASOLO deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.bcpartners.com/portfolio/forno-dasolo/

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Home Database AgriFoodFORNO D’ASOLO

06/2018

FORNO D’ASOLO acquired by BC PARTNERS

ITALY Food Processing / Food Products / Bakery / Pastry EV 300M - 700M EUR

Context

BC Partners has agreed to acquire Forno d'Asolo, a leading Italian producer of frozen bakery products, from the private equity firm 21 Partners and its co-investors. The transaction also includes a significant reinvestment from the company's existing management team, led by CEO Alessandro Angelon, who will partner with BC Partners to drive the next phase of growth. The strategic rationale for the acquisition is centered on capitalizing on Forno d'Asolo's strong market position and accelerating its expansion trajectory. BC Partners was attracted to the company's consistent growth, its reputation for quality Italian products, and its extensive distribution network covering the fragmented Italian food service market. The new ownership structure aims to provide the necessary financial and strategic resources to pursue an ambitious growth plan. This plan involves both organic initiatives, such as expanding the product portfolio, and inorganic growth through a targeted buy-and-build strategy to further consolidate the market. By leveraging its sector expertise and international network, BC Partners intends to support Forno d'Asolo's management in transforming the company from a national champion into a more significant international player, building upon the foundation established under its previous ownership.

It is worth noting that the fund 21 Invest took control of Forno D’Asolo through an LBO in 2014.

FORNO D’ASOLO, which reported an EBITDA margin of in 2018, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the AgriFood sector (11.0x).

-> Deep-dive in AgriFood market trends

Target

Forno d'Asolo Group is a prominent Italian manufacturer and distributor specializing in frozen bakery and patisserie products. The company operates as a key player in its domestic market and has established a significant international presence, serving markets in the United States, Germany, and France. Its comprehensive product portfolio covers a wide range of high-quality bakery items, positioning it as an ambassador for Italian artisanship on a global scale. The Group's business model is supported by a unique and efficient distribution platform and diversified sales channels, enabling it to reach a broad and loyal customer base. A core part of its product offering includes traditional Italian patisserie, significantly strengthened by the integration of iconic brands such as Bindi, a Milan-based company with a rich history spanning over 80 years. Forno d’Asolo is recognized for its operational excellence and its ability to deliver authentic, premium frozen baked goods to both food service and retail clients internationally, maintaining a strong reputation for quality and innovation in the sector.

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Other operations with FORNO D’ASOLO

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
Date	Acquirer	Target	Country	Sector
02/2024	INVESTINDUSTRIAL / SAMMONTANA	FORNO D’ASOLO	ITALY	Bakery / Pastry
04/2014	21 INVEST	FORNO D’ASOLO	ITALY	Bakery / Pastry

REFERENCES

Valuation range: EV 300M - 700M EUR

Revenue range: 100M - 200M EUR

EBITDA range: 10M - 30M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of FORNO D’ASOLO by BC 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.

Press release: view release

Target: forno d’asolo

Acquirer: bc partners