Chequers Partenaires Acquires 100% Stake in Gourmet Italian Food
Deal News | Apr 03, 2025 | Finance Community IT - 3 Private Equity
Chequers Partenaires, a Paris-based private equity firm, successfully acquired 100% of the share capital of Gourmet Italian Food (GIF) through its fund, Chequers Capital XVIII SLP. The vendors included Alcedo SGR and FVS SGR, major stakeholders in GIF. GIF, which originated from a strategic merger initiative in 2019 involving Eurochef Italia and La Gastronomica, has experienced significant growth. Under Alcedo's leadership, GIF's turnover increased from €17 million in 2019 to over €140 million in 2024, emphasizing its prowess in producing high-quality ready meals and becoming a leader in the Italian market. Chequers Partenaires intends to further bolster GIF’s growth and strategic positioning through targeted acquisitions, backed by GIF's strong management team and its comprehensive product offerings. The transaction involved multiple advisors, including Dawan Corporate Finance, Spayne Lindsay C Co., PwC, Deloitte, and more, highlighting the cross-discipline collaboration necessary for such a complex deal.
Sectors
- Private Equity
- Food and Beverage
- Mergers and Acquisitions
Geography
- Italy – Gourmet Italian Food and its operations are based in Italy.
- France – Chequers Partenaires, the acquiring private equity firm, is based in Paris, France.
Industry
- Private Equity – This industry is relevant as the article discusses a private equity firm, Chequers Partenaires, acquiring a company.
- Food and Beverage – The article focuses on Gourmet Italian Food, a company engaged in the production of ready meals and other food products.
- Mergers and Acquisitions – The primary focus of the article is the acquisition of Gourmet Italian Food by Chequers Partenaires.
Financials
- €140 million – Group revenue of Gourmet Italian Food in 2024.
- €17 million – Group revenue of Gourmet Italian Food in 2019.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Chequers Partenaires | Acquirer | Company | A Paris-based private equity firm acquiring Gourmet Italian Food. |
| Gourmet Italian Food (GIF) | Target | Company | An Italian company specializing in high-quality ready meals. |
| Alcedo SGR | Seller/Vendor | Company | An investment firm involved in the ownership of GIF until its sale to Chequers Partenaires. |
| FVS SGR | Seller/Vendor | Company | Another investment firm involved in the ownership of GIF. |
| Dawan Corporate Finance | M&A Advisor | Company | Provided advisory services for the sellers in the transaction. |
| PwC | Financial and Tax Advisor | Company | Handled financial and tax vendor assistance for the sellers. |
| Deloitte | Financial Due Diligence | Company | Conducted financial due diligence for the acquirer. |
| BonelliErede | Legal Advisor | Company | Acted as a legal advisor for the sellers. |
| Accenture | Business Due Diligence | Company | Conducted business due diligence for the acquirer. |
| Advant NCTM | Tax and Legal Due Diligence | Company | Handled tax and legal due diligence for the acquirer. |