Polli Completes Sale of Majority Stake to Platinum Equity
Deal News | Dec 13, 2024 | Platinum Equity
Platinum Equity has acquired a majority stake in F.lli Polli S.p.A., an established Italian producer of pasta condiments and vegetable preserves. This acquisition marks a noteworthy transition from the Polli family's longstanding ownership to a strategic investment facilitated by Platinum Equity. The financial specifics of the transaction have not been disclosed. The acquisition aligns with Platinum Equity's strategy of expanding Polli's presence beyond its current market in Europe and penetrating the United States. Platinum Equity's Small Cap investment team, known for its expertise in food and beverage acquisitions in Europe, spearheaded this venture. With continuous support from the Polli family, who retain a minority stake, and CEO Marco Fraccaroli, who will continue to guide the company, this acquisition is poised to bolster Polli's global market presence. Platinum Equity's acquisition strategy, known as M&A&O®, emphasizes operational and carveout expertise, contributing to its successful expansion in European markets over the past two decades. Deloitte, Clearwater, Latham & Watkins LLP, and E&Y served as advisors on the transaction.
Sectors
- Food and Beverage
- Private Equity
Geography
- Italy – Polli is an Italian company with operations and significant presence in the Italian market.
- United States – Platinum Equity is based in Los Angeles, USA, and has plans to expand Polli's presence in the U.S. market.
- Europe – Polli operates in multiple European countries and Platinum Equity has a strong investment presence in European markets.
Industry
- Food and Beverage – Polli is a significant player in the food and beverage industry, specializing in pasta condiments and vegetable preserves.
- Private Equity – Platinum Equity is a global private equity firm that specializes in mergers, acquisitions, and operations, as seen in this acquisition of Polli.
Financials
- Not disclosed – Financial terms of the transaction were not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| F.lli Polli S.p.A. | Target Company | Company | A leading Italian producer of pasta condiments and vegetable preserves. |
| Platinum Equity | Bidding Company (Buyer) | Company | A global private equity firm specializing in mergers, acquisitions, and operations. |
| Polli Family | Selling Company (Vendor) | People | The founding family of Polli, retaining a minority stake in the business. |
| Marco Fraccaroli | CEO | People | The CEO of Polli, continuing to lead the company post-acquisition. |
| Deloitte | Financial Advisor | Company | Provided financial advisory services to Platinum Equity. |
| Clearwater | Financial Advisor | Company | Provided financial advisory services to Platinum Equity. |
| Latham & Watkins LLP | Legal Advisor | Company | Provided legal advisory services to Platinum Equity. |
| E&Y | Tax Counsel | Company | Provided tax counsel services on the transaction. |