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03/2014

NUOVA CASTELLI acquired by CHARTERHOUSE

ITALY Food Processing / Food Products / Dairy EV 300M - 700M EUR

Context

Charterhouse Capital Partners acquired an 80% majority stake in Nuova Castelli's cheese business. The transaction involved a complex corporate reorganization: the group's canned tuna business (Airone, operating in Cote d'Ivoire) was carved out and retained by the founding president. The founder kept a 20% minority stake in the cheese entity to ensure continuity.

NUOVA CASTELLI, which reported an EBITDA margin of in 2013, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the AgriFood sector (11.0x).

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Target

Headquartered in Reggio Emilia, the heart of Italy's "Food Valley," Nuova Castelli is the leading Italian manufacturer and exporter of Parmigiano Reggiano DOP. The company operates five production plants across Italy and Hungary. Beyond its flagship Parmigiano, the group produces and distributes a wide range of Italian hard cheeses, including Grana Padano and Gorgonzola. Nuova Castelli is distinctively export-oriented, generating 90% of its revenue outside Italy.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2013
2012

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11/2013EQUISTONEMADEMOISELLE DESSERTSFRANCEBakery / Pastry
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09/2013EQUISTONECHARLES & ALICEFRANCEFood Products
08/2013INVESTCORPTYRRELLSUNITED KINGDOMFood Products
07/2013ARTÉMISMICHEL ET AUGUSTINFRANCEFood Products

REFERENCES

Valuation range: EV 300M - 700M EUR

Revenue range: 250M - 500M EUR

EBITDA range: 25M - 50M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of NUOVA CASTELLI by CHARTERHOUSE 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: nuova castelli

Acquirer: charterhouse