30 May 2014Place:
Nuova Castelli is the leading manufacturer and marketer of Italian P.D.O. cheese products, including Parmigiano Reggiano, Grana Padano and Gorgonzola. The Company operates through its five product plants located in Italy and Hungary and its own distribution and commercial platforms in France, UK, Germany, Scandinavia and Russia. Nuova Castelli’s customer base includes all the major European retail chains, including Tesco, Asda, Waitrose, Auchan, Carrefour, System U, Metro and Esselunga, which are served directly through its own distribution platforms. In 2013, Nuova Castelli generated revenues of Eur. 290 million and EBITDA of approximately Eur. 35 million.
CP Advisors acted as the exclusive financial advisor to Nuova Castelli in the sale process, which resulted in the divestiture of 80% of the business to Charterhouse Capital Partners, a leading UK based private equity firm with over £4 billion on available funds, for approximately Eur. 320 million in cash.