Santangelo Group: Italian Private Equity Firm Acquires Majority Stake

Fondo Italiano d’Investimento SGR has acquired a majority stake in Santangelo Group, a renowned family-owned company in Umbria, Italy, specializing in premium baked goods, in a transaction designed to capitalize on the growing demand for artisanal baked products. This marks the fifth investment by the Fondo Italiano Agri&Food (FIAF) in the past year and a half as it seeks to support exceptional players in Italy's agri-food industry. Under the terms of the deal, Fondo Italiano will hold a 70% stake in Santangelo, while CEO Gianluigi Formichetti will reinvest in the company and continue to lead operations. The transaction is scheduled to complete by July. Fondo Italiano was advised by several firms including Pavia e Ansaldo for legal due diligence and EY for financial matters. This investment will help bolster Santangelo's position as a leader in the premium confectionery segment, with plans to expand its footprint in international markets. Santangelo Group has doubled its revenue since 2020, achieving €32 million in the last fiscal year, with exports accounting for over 25% of its revenue. The company is known for its high-quality, artisanal production processes. The firm’s products include a range of breakfast pastries and also seasonal baked goods such as panettones and colombe. The manufacturing facility in Terni has undergone significant upgrades in recent years, with expansion plans to further increase production capacity. Both parties express optimism towards pursuing growth in the domestic and overseas markets, leveraging FIAF's strategic investment platform and resources.