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.

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.rielloinvestimenti.it/pdf/2023-06-01_riello_investimenti_fornaio_del_casale.pdf

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Home Database AgriFoodIL FORNAIO DEL CASALE

06/2023

IL FORNAIO DEL CASALE acquired by RIELLO INVESTIMENTI PARTNERS

ITALY Food Processing / Food Products / Bakery / Pastry REV 50M - 100M EUR

Context

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.

IL FORNAIO DEL CASALE, which reported an EBITDA margin of in 2023, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the AgriFood sector (11.8x).

-> 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.

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Other operations with IL FORNAIO DEL CASALE

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
Date	Acquirer	Target	Country	Sector
09/2025	AKSIA	IL FORNAIO DEL CASALE	ITALY	Bakery / Pastry

REFERENCES

Revenue range: 50M - 100M 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 RIELLO INVESTIMENTI 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: il fornaio del casale

Acquirer: riello investimenti partners