Italian mid market private equity operator Alto Partners sgr sells its 40% stake in grocery and spices specialist Drogheria & Alimentari to SICI sgr (24%) and Hat Holding (16%). The remaining 60% of the company will still be controlled by the Carapelli-Barbagli family, the former owner of Carapelli oilve oil brand (download here the press release).
Alto Partners invested in Drogheria & Alimentari in March 2010 through its Alto Capital II fund.
Drogheria & Alimentari reached 55 million euros in consolidated revenues in 2013 (20% coming from export sales in 65 countries), an ebitda of 6.6 millions and a net financial debt (including real estate leasing) of 31 millions. This year revenues are expected to reach 57 million euros and ebitda is seen at 8,8 millions.
The original company was founded in Florence in 1880, it has always operated in the spice and grocery sector, importing directly from the countries of origin. In 1987 the Carapelli and Barbagli families took control of the busines amd since then they took over other Italian brands in the food sector such as Nuova Terra (cereals ans soups), I Toscanacci (sauces) and Maribù (cake decorations).
