NUOVA CASTELLI acquired by CHARTERHOUSE
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.
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Historical Financials (EUR)
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|---|---|---|---|---|
| 04/2014 | SYMRISE | DIANA GROUP | FRANCE | Ingredients |
| 04/2014 | 21 INVEST | FORNO D’ASOLO | ITALY | Bakery / Pastry |
| 02/2014 | RIVERSIDE | CASA OPTIMA | ITALY | Ingredients |
| 02/2014 | SOLINA GROUP | SFK FOOD | DENMARK | Ingredients |
| 12/2013 | DANTE BIGI S.R.L. | GRUPPO ALIVAL | ITALY | Dairy |
| 11/2013 | EQUISTONE | MADEMOISELLE DESSERTS | FRANCE | Bakery / Pastry |
| 11/2013 | FRUTAROM | PTI (PROTEIN TECHNOLOGIES INGREDIENTS GROUP) | RUSSIA | Ingredients |
| 09/2013 | EQUISTONE | CHARLES & ALICE | FRANCE | Food Products |
| 08/2013 | INVESTCORP | TYRRELLS | UNITED KINGDOM | Food Products |
| 07/2013 | ARTÉMIS | MICHEL ET AUGUSTIN | FRANCE | Food Products |
REFERENCES
Valuation range: EV 300M - 700M EUR
Revenue range: 250M - 500M EUR
EBITDA range: 25M - 50M 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: nuova castelli
Acquirer: charterhouse