At what enterprise value was IL FORNAIO DEL CASALE acquired in 2025?

During the acquisition of IL FORNAIO DEL CASALE by AKSIA in 2025, the company was valued at an estimated revenue multiple of below 5x. The transaction's Enterprise Value is estimated to be in the range of 50M - 150M EUR. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the AgriFood industry currently tracks an average EBITDA multiple of 10.5x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of IL FORNAIO DEL CASALE when it was acquired by AKSIA?

The estimated EV/EBITDA multiple for IL FORNAIO DEL CASALE is in the range of 5x - 12x. For comparison, the AgriFood sector currently shows an average EBITDA multiple of 10.5x. Join our community for free to access full valuation data and industry trends.

When was IL FORNAIO DEL CASALE acquired by AKSIA?

IL FORNAIO DEL CASALE was acquired by AKSIA in 2025.

What was the revenue of IL FORNAIO DEL CASALE at the time of the deal?

The revenue of IL FORNAIO DEL CASALE at the time of the deal is estimated to be in the range of 50M - 100M EUR. Register for free to access the full transaction report and exact valuation multiples.

What was the EBITDA of IL FORNAIO DEL CASALE during the acquisition?

IL FORNAIO DEL CASALE's EBITDA is estimated to be in the range of 5M - 25M EUR. Join our community for free to access complete and exact deal data.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the IL FORNAIO DEL CASALE 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 IL FORNAIO DEL CASALE 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.just-food.com/news/aksia-foraio-del-casala-acquisition/?cf-view

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Home Database AgriFoodIL FORNAIO DEL CASALE

09/2025

IL FORNAIO DEL CASALE acquired by AKSIA

ITALY Food Processing / Food Products / Bakery / Pastry EV 50M - 150M EUR

Context

Aksia Group has signed a binding agreement to acquire a majority stake in Fornaio del Casale from Riello Investimenti SGR and the founding family. Both Riello Investimenti (which acquired its stake in 2023) and the family will reinvest to retain minority stakes. The acquisition aims to support an aggressive "buy-and-build" strategy to create a leading group in the sweet and savory snack market.

Riello Investimenti Partners had previously taken control of the company during an LBO in 2023.

IL FORNAIO DEL CASALE, which reported an EBITDA margin of LOGIN in 2024, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the AgriFood sector (10.5x).

Note that 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.

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Target

Founded in 1969 and based in Casale sul Sile (Treviso), Fornaio del Casale is a leading Italian producer of ambient bakery products. The company operates under the proprietary brands Gecchele and Antico Casale, offering over 450 SKUs across four main categories: cakes, pastries, daily bakery items, and seasonal carnival specialties (frittelle, crostoli). It operates a 12,500 sqm facility with eight production lines and distributes primarily through large-scale retail chains (GDO) and discount stores in Italy, with a growing export presence in Germany, France, and Japan.

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Other operations with IL FORNAIO DEL CASALE

List of similar M&A transactions (Date, Acquirer, Target, Country, Sector, Deal Context)
Date	Acquirer	Target	Country	Sector	Deal Context
06/2023	RIELLO INVESTIMENTI PARTNERS	IL FORNAIO DEL CASALE	ITALY	Food Processing	Riello Investimenti Partners SGR has acquired a 75% majority stake in Il Fornaio del Casale S.p.A. The founding family retains a 25% minority stake and remains involved in the management. This is the seventh acquisition for the "Italian Strategy Private Equity" fund. The strategic rationale is to support the company's growth by expanding domestic distribution and, crucially, accelerating internationalization (exports). The deal structure leverages the target's strong brand positioning to enter new markets.

REFERENCES

Valuation range: EV 50M - 150M EUR

Revenue range: 50M - 100M EUR

EBITDA range: 5M - 25M EUR

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

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Target: il fornaio del casale

Acquirer: aksia