CVC Capital Partners Fund VIII (CVC Funds) has agreed to acquire 100% of the Italian quick-service restaurant chain, La Piadineria, from funds advised by global private equity investment firm Permira.
La Piadineria is the second-largest restaurant chain in Italy, operating more than 400 locations in city centres, malls, retail parks and travel hubs across the country.
The Permira funds acquired La Piadineria at the beginning of 2018. Revenues and EBITDA have grown three-fold under the funds’ ownership, while DOS and employee numbers have increased from 160 to 400 and circa 1,000 to more than 2,500 respectively.
The transaction is subject to customary regulatory approvals and is expected to close in the first half of 2024.
CVC was advised by Lazard, Jefferies, PedersoliGattai, Bain & Co, OC&C, Alvarez & Marsal, New Deal Advisors, Facchini Rossi Michelutti.
Permira was advised by Rothschild & Co, Mediobanca, Legance, BCG, E&Y, Simon-Kucher, Maisto & Associati.
