Clessidra Private Equity Snaps Up Italian Bakery Group Laurieri

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Clessidra Private Equity has taken a mostly liking successful section Italian baked equipment shaper Laurieri for an undisclosed sum.

The private-equity limb of alternative-investment patient Clessidra Group has taken a 70% holding successful nan shaper of Italian speciality cantucci biscuits and taralli crackers from nan Laurieri family owners.

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As portion of nan deal, nan Laurieri family will clasp a 30% liking and will reinvest into nan business alongside Clessidra to support nan company’s growth.

In a statement, Clessidra said nan move was “perfectly aligned pinch nan strategy of nan Clessidra Capital Partners’ Green Harvest fund”. Set up successful July, nan money focuses connected Italian agri-food SMEs, pinch nan extremity of “promoting sustainable and competitory business models”.

Established successful 1976, Laurieri generates astir €20m ($23.2m) successful yearly revenue, and much than €5m successful EBITDA, according to nan statement. Over 90% of its gross comes from world markets.

Based successful Matera, confederate Italy, nan institution operates 4 accumulation lines pinch astir 45 tons of regular capacity.

Andrea Otaviano, CEO of Clessidra Private Equity, said: “We are proud to denote nan first finance of nan Green Harvest fund, which represents a tangible measurement guardant successful Clessidra’s strategy to beforehand Italian excellence successful nan agri-food sector.

“Laurieri perfectly embodies nan values of quality, innovation, and sustainability that specify our finance vision, and we are delighted to support nan institution successful nan adjacent shape of growth.”

Emanuele Cuccio, nan managing head of Clessidra Private Equity, said nan investor plans “to accelerate” nan biscuit producer’s maturation done “expanding accumulation capacity, strengthening merchandise innovation, and further enhancing its world footprint, while maintaining nan highest attraction connected ESG principles crossed nan full proviso chain”.

Aside from saccharine and savoury snacks, Laurieri produces gluten-free crackers, breadsticks and babe nutrient nether nan Little Toothsome brand. It besides useful successful backstage explanation and recreation catering.

“Clessidra’s introduction represents an important nickname for nan activity we person done complete nan years,” Franco Laurieri, laminitis of nan business, said. “I chose to reinvest, together pinch my boy Gianni Laurieri, because I stock nan imagination for maturation and nan desire to support heavy section roots while continuing to connection high-quality products that blend contented and innovation.”

Set up successful 2003, Clessidra Private Equity is managed by Clessidra Holding and has carried retired much than 30 investments worthy €2bn since it was founded.

In July past year, nan private-equity group snapped up Italian better-for-you cereals shaper Molino Nicoli from its owners, nan Nicoli family.

Financial specifications of nan transaction were not disclosed but nan Nicoli family reinvested a 30% liking arsenic a consequence of nan acquisition.