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01/2020100%LBO

Pasticceria Bindi acquired by BC Partners

ITALY Food Processing / Food Products EV €100–350M

Context

BC Partners agreed to acquire Pasticceria Bindi S.p.A. from its founding family owners, marking a significant strategic investment in the Italian frozen bakery sector. This transaction follows BC Partners' prior acquisition of Forno d’Asolo in 2018, underscoring the private equity firm's interest in capitalizing on the global appeal of high-quality Italian food products. The rationale for the acquisition is centered on accelerating Bindi's growth trajectory. BC Partners plans to support the company's management in pursuing an ambitious expansion strategy. Key initiatives include broadening the existing product portfolio, innovating with new patisserie items, and significantly growing international sales, particularly by leveraging Bindi's strong foothold in the United States. Furthermore, the acquisition positions Bindi as a platform for market consolidation through subsequent strategic acquisitions in Italy and abroad. For the Bindi family, the partnership with BC Partners ensures business continuity while providing the capital and strategic support necessary for robust international expansion. The existing management team, including the General Manager and a member of the founding family in a non-executive capacity, will remain to guide the company's future development and protect its brand legacy.

The acquisition of Pasticceria Bindi is part of the growth strategy of BC Partners, which already has several external growth operations under its belt, notably Presidio in 2019.

Pasticceria Bindi, which reported an EBITDA margin of [members only] in 2019, is valued in this transaction at an EV/EBITDA multiple of [members only].

-> Deep-dive in AgriFood market trends

Target

Pasticceria Bindi S.p.A. is a prominent Italian producer and distributor of frozen patisserie products, headquartered in Milan where it was founded in 1934. The company offers an extensive portfolio of desserts and bakery items, including patisserie, ice cream mono-portion desserts, cakes, and ice creams. Bindi has established a significant footprint within its domestic market, serving a highly fragmented customer base of over 25,000 clients, which primarily consists of restaurants, hotels, and bars. Beyond Italy, the company has a strong international presence, with sales in over 40 countries accounting for a substantial portion of its business. Its largest international market is the United States, where it operates a dedicated subsidiary with its own production and direct distribution capabilities. The company is recognized for its broad range of high-quality products, strong brand equity, and advanced manufacturing processes. It maintains two production facilities in Italy and one in the United States. In 2019, the company employed a workforce of over 600 people to support its domestic and international operations.

Ent. Value

€100–350M

Equity Value

[members only]

Multiples

EV / Revenue

1x–3x

EV / EBITDA

[members only]

EV / EBIT

[members only]

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2019
€100–200M
[members only]
[members only]
2018
€100–200M
[members only]
[members only]

Other operations with BC Partners

Other operations with BC Partners
DateAcquirerTargetCountrySector
08/2021BC PARTNERS / CPPIB (CANADA PENSION PLAN INVESTMENT BOARD)CERAMTECGERMANYGlass & Ceramics
02/2021BC PARTNERSIMA GROUPITALYRobotics & Automation
08/2019BC PARTNERSPRESIDIOUNITED STATESConsulting & Integration
07/2019BC PARTNERSSYNTHON INTERNATIONALNETHERLANDSGenerics / Labs
07/2019BC PARTNERSGARDAWORLD SECURITYCANADASecurity & Guarding
07/2018BC PARTNERSNAVEXUNITED STATESERP, HR & Finance
06/2018BC PARTNERSFORNO D’ASOLOITALYBakery / Pastry
10/2017BC PARTNERSCERAMTECGERMANYGlass & Ceramics
05/2017BC PARTNERSDENTALPROITALYDental Centers
07/2016BC PARTNERS / PSP INVESTMENTSKETERISRAELHome & DIY

Similar deals in Food Processing

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01/2020BEMYCOMPANY CAPITAL PARTNERACETAIA FONDO MONTEBELLOITALYFood Products
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10/2019SEVEN2 / UI INVESTISSEMENT / CREDIT MUTUEL EQUITYROUTINFRANCEBeverages
09/2019HEINEKENGALLIA PARISFRANCEWines & Spirits

REFERENCES

Valuation range: EV €100–350M

Revenue range: €100–200M

EV/Revenue range: 1x - 3x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Pasticceria Bindi by BC 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.

Target: pasticceria bindi

FAQ

What transaction does this page cover?

This page covers BC Partners’s acquisition of 100% of Pasticceria Bindi, an Italian company specialised in Food Products, in 2020, structured as a leveraged buyout (LBO).

How was the acquisition of Pasticceria Bindi by BC Partners valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the €100–350M band and its EV/revenue multiple within the 1x - 3x range. Exact figures are available to members.

What was Pasticceria Bindi’s revenue at the time of the deal?

At the time of the transaction, Pasticceria Bindi’s annual revenue was estimated within the €100–200M range (FY 2019). Detailed financial figures are available to members.

What sources support the information on this transaction?

Transaction data and operational intelligence were compiled from independent financial press reporting by specialized M&A publications.

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