LA PIADINERIA acquired by PERMIRA
Context
Permira acquired a controlling stake in La Piadineria from the specialized fund Idea Taste of Italy (managed by Dea Capital Alternative Funds). The high valuation reflects the intense competition during the auction (bidders included Bain, Carlyle and L Catterton). The seller reinvested to keep a minority stake (10%) alongside the management team. The deal aims to accelerate store openings in Italy and establish a presence in European markets, starting with France (Nice and Marseille).
LA PIADINERIA, which reported an EBITDA margin of [members only] in 2017, is valued in this transaction at an EV/EBITDA multiple of 10x–18x, representing a premium to the average currently observed in the Retail & Consumer sector (11.9x).
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Target
Founded in 1994, La Piadineria transformed a traditional regional street food (the "Piadina") into a scalable, modern and fast-casual chain. The company operates a network of 165 restaurants (2017) located primarily in shopping centers and urban hubs accross Northern and Central Italy.
Ent. Value
€300–700M
Equity Value
[members only]
Multiples
EV / Revenue
2x–6x
EV / EBITDA
10x–18x
EV / EBIT
[members only]
Historical Financials (EUR)
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REFERENCES
Valuation range: EV €300–700M
Revenue range: €50–100M
EBITDA range: €10–30M
EV/Revenue range: 2x - 6x
EV/EBITDA range: 10x - 18x
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of LA PIADINERIA by PERMIRA 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: la piadineria
Acquirer: permira