Preziosi Food, the massive Italian snacks on the market | EUROtoday

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The non-public fairness funds Vertis and Hat are beginning the exit from the subsidiary Preziosi Food, the massive Italian savory snack firm primarily based in Melfi. According to market sources, a aggressive course of geared toward promoting the vast majority of the corporate, which the 2 non-public fairness companies entered in 2016, after taking up management from the Giochi Preziosi group, is about to start out in January. At work, with an exploratory mandate, could be the monetary advisor Houlihan Lokey.

In the sphere, to guage a attainable acquisition of Preziosi Food, in line with rumors there could be different non-public fairness funds specialised in meals, however above all international multinationals energetic in the identical sector. Among the names circulating are these of the Irish multinational Valeo Foods, but in addition of the German group Intersnack.

The savory snack enterprise

But the goals of American or Asian teams, involved in getting into the Italian and subsequently European marketplace for savory snacks, can’t be dominated out. Moreover, Italy itself has a well-defined sector within the savory snacks sector, the place there are primarily 4 main operators: along with Preziosi Food, San Carlo, Amica Chips and the Pata group.

Furthermore, it ought to be added that Preziosi Food has completely modified in comparison with the corporate which till 2016 was nonetheless managed by the previous proprietor of Genoa and shareholder of Giochi Preziosi, Enrico Preziosi. Preziosi Food in 2017 was in truth going by way of a interval of economic pressure, which had led to the breaking of the covenants and an settlement with the creditor banks as a part of the debt restructuring process pursuant to article 67 of the chapter regulation.

The relaunch

The relaunch of Preziosi Food occurred with the entry of personal fairness funds and the refinancing of the debt (for 10 million) and the granting of additional financing for roughly 8 million by Illimity. In 2019, the Dolci Preziosi enterprise department was additionally offered to Cerealitalia, energetic within the advertising of Easter eggs, Befana stockings, eggs, sweets and leavened baked items. So in just some years Preziosi Food, completely reorganized with extra trendy manufacturing strains, has grow to be one of many main Italian teams energetic within the savory snacks sector.