mynth
← DATABASE
08/2019

POLENGHI acquired by PROGRESSIO SGR

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

Context

Progressio SGR has acquired a minority stake in Polenghi Food S.p.A. from the founding family. The capital injection is aimed at accelerating the company's international growth, particularly in the United States (its largest market) and consolidating its leadership in Europe. The strategic plan also includes potential add-on acquisitions to expand the product portfolio and strengthen geographic presence.

POLENGHI, which reported an EBITDA margin of LOGIN in 2018, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the AgriFood sector (10.9x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

-> Deep-dive in AgriFood market trends

Target

Founded in 1976 and based near Piacenza, Polenghi Food is a global leader in the production and distribution of lemon and lime juice for condiments. The company specializes in packaging citrus juices for major retail chains (GDO) and food service clients worldwide. Under the leadership of Marco Polenghi, the company has pursued an aggressive internationalization strategy, establishing production and commercial subsidiaries in Europe and the United States. It exports to over 80 countries, with significant market presence in the US, France, and the UK.

Ent. Value

LOGIN

Equity Value

LOGIN

Multiples

EV / Revenue

LOGIN

EV / EBITDA

LOGIN

EV / EBIT

LOGIN

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2018
LOGIN
LOGIN
LOGIN
2017
LOGIN
LOGIN
LOGIN

Similar deals in AgriFood

List of similar M&A transactions (Date, Acquirer, Target, Country, Sector, Deal Context)
DateAcquirerTargetCountrySectorDeal Context
10/2019SEVEN2 / UI INVESTISSEMENT / CREDIT MUTUEL EQUITYROUTINFRANCEFood Processing

Apax Partners Development acquired a majority stake in Routin following a competitive auction process managed by Transaction R. The transaction marked the exit of Credit Mutuel Equity as the majority shareholder, though they reinvested significantly to remain as a minority partner

09/2019HEINEKENGALLIA PARISFRANCEFood Processing

Heineken N.V. completed a minority investment in 2019 in Paris-based microbrewery Gallia Paris, a leading player in the revival of the French craft beer segment. Heineken’s minority stake was structured to support Gallia’s industrial and commercial growth while preserving its operational and creative independence

07/2019RIELLO INVESTIMENTI PARTNERSFOODNESSITALYFood Processing

Riello Investimenti SGR has acquired a 73% majority stake in Foodness S.p.A. The remaining capital is held by the founders (Paolo Fermi, Franco Lusetti, and Alberto Andrei), who retain their management roles, alongside industry veterans Mario Muttoni and Roberto Venturi

06/2019HEINEKENOEDIPUSNETHERLANDSFood Processing

Heineken N.V., a global brewing group, acquired a minority stake in Oedipus Brewing in 2019, an independent Amsterdam-based craft brewery rooted in the Dutch urban craft beer scene. The transaction reflects a strategic investment into a high-identity craft player positioned in differentiated beer segments

04/2019DANONEMICHEL ET AUGUSTINFRANCEFood Processing

Danone has completed the acquisition of a majority stake in Michel & Augustin, increasing its ownership to 95% through its Danone Manifesto Ventures entity. This transaction follows an initial investment in 2016, which represented a 40% stake, and subsequent gradual increases in ownership over the years

02/2019PERMIRAHANA GROUPFRANCEFood Processing

The transaction is structured as a secondary leverage buyout executing the complete exit of TA Associates after a four-year holding period. The departing majority shareholder relinquishes control to facilitate the next institutional expansion phase

12/2018MADEMOISELLE DESSERTSDELICE DES 7 VALLEESFRANCEFood Processing

Just months after the acquisition of Michel Kremer, Mademoiselle Desserts completed another structural add-on by absorbing Les Delices des 7 Vallees from the private equity fund Sagard. The operation was financed through bank debt

11/2018AMBIENTAAROMATAGROUPITALYFood Processing

Ambienta SGR has acquired a majority stake in AromataGroup from its founders and management. This acquisition marks Ambienta's entry into the food ingredients sector, serving as a platform investment to consolidate the fragmented European market for natural flavours and colours

11/2018PARQUEST CAPITALSOPRALFRANCEFood Processing

Parquest Capital acquired a majority stake in Sopral from the Avril Group. This strategic carve-out allowed Sopral to gain independence and accelerate its growth in the consolidating premium pet food market

11/2018FRENCH FOOD CAPITALLES 2 MARMOTTESFRANCEFood Processing

FrenchFood Capital, a Paris‑ based private equity firm focused on the food sector, entered the capital of Les 2 Marmottes in 2018 through a growth equity investment of approximately EUR 12 million. The transaction was structured as a minority stake, designed to support the company’s continued expansion in France and abroad while enabling the existing family‑owned management team to retain control

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 POLENGHI by PROGRESSIO SGR are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Acquirer: progressio sgr