Enrico Giotti Fact Sheet

Giotti Fact Sheet December 2016

Business Description

• Giotti is a leading Italian flavor manufacturer located in Florence, Italy
• Founded in 1928
• Production facilities in Florence and Parma
• Approximately 130 employees

 

Strategic Rationale for Acquisition

Technology/Talent​

• Enhance flavor capability in Europe,Middle East & Africa (EMEA)
• Builds on strong R&D capabilities
• Adds expertise in high-growth health & nutrition segment

 

Customers​

• Expands product range and customer base
• Deepens existing customer relationships

Growth

• Expands platform in Italy and increases existing scale
• Margins accretive to the industrial segment
• Accelerates sales growth for EMEA region

Business Description

• Purchased 100% stock of Enrico Giotti SpA for 120 million Euro (127 million U.S.dollars), subject to certain closing adjustments
• Financed with cash and short-term borrowings.
• Transaction multiple is approximately 12x EBITDA (earnings before interest, tax,depreciation and amortization)
• Fully accretive EPS impact in 2018; transaction, integration and financing costs in 2017

 

Net Sales

• Annual sales approx. 53 million Euro (56 million USD).
• Mid-to-high single digit sales growth expected for the next several years
• Top 3 customers represent 20% of sales

 

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