PE Tech Report

NEWSLETTER

Like this article?

Sign up to our free newsletter

Cerea Capital II acquires Monviso

Céréa Capital II, managed by Céréa Partenaire, alongside the company’s management and supported by Capzanine and Céréa Mezzanine, has acquired Monviso, an Italian manufacturer of crackers, bread substitutes and sweet and savoury biscuits, from PM & Partners.

With 130 employees and 4 facilities in northern Italy, Monviso had sales of approximately EUR 36m in 2017, more than one third of which from exports. It is composed of two branches, Monviso (biscotto salute, bruschetta line, breadsticks, crackers and recently cookies under its own brand for retailers and in co-packing mainly for gluten-free) and Tonon (sweet and savory biscuits for retail exports, catering and ice cream manufacturers).
 
The resilience and profitability of the company is based on the strength of the Monviso brand in northern Italy, positioned at the high-end range for quality-healthy products, its know-how in gluten-free, palm oil-free, lactose free, etc and its complementarity with Tonon (product, distribution channels, geographies) acquired in 2015.
 
Manfredi Cusmano, CEO of Monviso Group, adds: “We are looking forward to this new partnership with an actor specialized in agrobusiness. It will allow us to consolidate our position in Italy and in Europe, while supporting our policy of innovation and presence in exports.”
 
Gilles Sicard, Executive Managing Director of Céréa Partenaire, says: “Monviso benefits from both a very strong, upmarket brand in northern Italy and the exportability of Italian grocery products. We intend to help the company seize all external growth and international development opportunities along these axes.”
 
In line with its internationalization, Céréa continues its development in Western Europe and, with Monviso, has completed its first investment in Italy.
 
Financing for the operation is completed by mezzanine debt provided by Céréa Mezzanine and Capzanine and senior bank debt led by Credit Agricole-Cariparma and Banca Nazionale del Lavoro (BNPParibas).

Like this article? Sign up to our free newsletter

MOST POPULAR

FURTHER READING

Featured

Blackstone Private Equity