Gelit

Deal News | Nov 27, 2024 | Finance Community IT - 3 Private Equity

Gelit

Consilium and Progressio have sold Gelit, a producer of frozen ready meals and crepes for private label, to Wealth Venture Fund SICAR, managed by Orange Capital. The private equity firms Consilium Private Equity Fund III and Progressio Investimenti III, alongside MMM, led by Massimo Menna, facilitated the sale. Gelit had been acquired in 2019 and has since increased production capacity and sustainability efforts, securing the BCorp certification. Founding in 1977 and based in Cisterna di Latina, Gelit has solid partnerships within the large-scale retail trade and food service industries. The divestment was supported by several advisors, including Lincoln International, BonelliErede, BCG, EY, and Russo De Rosa Associati.

Sectors

  • Private Equity
  • Food and Beverage
  • Retail/Consumer Goods

Geography

  • Italy – Gelit is based in Cisterna di Latina, Italy, and has a strong market presence in the country.
  • United States – Gelit has developed significant collaborations in the U.S. market.

Industry

  • Private Equity – Consilium and Progressio, as private equity firms, facilitated the sale of Gelit to Orange Capital.
  • Food and Beverage – Gelit is a producer of frozen ready meals and crepes, serving the private label market in the food industry.
  • Retail/Consumer Goods – Gelit has partnerships with large-scale retail trade operators, positioning itself within the consumer goods sector.

Financials

    Participants

    NameRoleTypeDescription
    GelitTarget CompanyCompanyProducer of frozen ready meals and crepes, acquired by Orange Capital.
    Consilium Private Equity Fund IIIVendorCompanyPrivate equity fund involved in selling Gelit.
    Progressio Investimenti IIIVendorCompanyPrivate equity fund involved in selling Gelit.
    MMMVendorCompanyCompany led by Massimo Menna, involved in selling Gelit.
    Orange CapitalBuyerCompanyManages Wealth Venture Fund SICAR, the acquiring entity of Gelit.
    Wealth Venture Fund SICARBidding CompanyCompanyInvestment vehicle managed by Orange Capital, which acquired Gelit.
    Lincoln InternationalFinancial AdvisorCompanyProvided financial advisory services for the sale of Gelit.
    BonelliEredeLegal AdvisorCompanyProvided legal advisory services for the deal.
    BCGStrategy AdvisorCompanyConducted business due diligence for the transaction.
    EYFinancial AdvisorCompanyConducted financial due diligence for the transaction.
    Russo De Rosa AssociatiTax AdvisorCompanyConducted tax due diligence for the transaction.