IL FORNAIO DEL CASALE acquired by AKSIA
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.
It is worth noting that the fund Riello Investimenti Partners took control of Il Fornaio Del Casale through an LBO in 2023.
IL FORNAIO DEL CASALE, which reported an EBITDA margin of in 2024, 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
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.
Ent. Value
Equity Value
Multiples
EV / Revenue
EV / EBITDA
EV / EBIT
Historical Financials (EUR)
Other operations with IL FORNAIO DEL CASALE
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 06/2023 | RIELLO INVESTIMENTI PARTNERS | IL FORNAIO DEL CASALE | ITALY | Bakery / Pastry |
REFERENCES
Valuation range: EV 50M - 150M EUR
Revenue range: 50M - 100M EUR
EBITDA range: 5M - 25M EUR
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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Target: il fornaio del casale
Acquirer: aksia