Investindustrial and Eataly have signed an agreement to support the international growth of Eataly, the ambassador of ‘Made in Italy’ food, which for almost 20 years has been promoting the sale of high-quality Italian food products and restaurant concepts in locations globally.
The transaction provides for an investment of €200M and a concurrent purchase by Investindustrial of a part of the shares held by existing shareholders, which will lead to Investindustrial becoming the majority shareholder. The transaction provides that, at closing, Investindustrial will hold 52 per cent of the company, with the existing shareholders Eatinvest (Farinetti family), the Baffigo / Miroglio family and Clubitaly (Tamburi Investment Partners) owning the remaining 48 per cent of the company. The investment aims to allow Eataly to retire net financial debt and maximize financial flexibility for the group’s global expansion plans.
Nicola Farinetti, who currently holds the position of chief executive officer, will assume the position of chairman of the company. A new CEO will be announced shortly with the mission of leading the company into its next phase of growth on a global scale.
Nicola Farinetti, CEO of Eataly, commented: “The agreement we signed launches a strategic partnership that propels Eataly into a new phase of its history, by accelerating its international growth. This partnership will allow us to strengthen our unique format worldwide, promote innovative projects related to innovation and enhance our capabilities. We are happy to take this new path together with such a reputable partner as Investindustrial, who shares Eataly’s values and vision, and has chosen to support us in achieving our goal to be the Italian ambassador for “Made in Italy” around the world. The know-how and resources that Investindustrial will bring to the Eataly model represent an extraordinary lever to look to the future with greater confidence and momentum, strengthened by our history and in continuity with the results achieved to date thanks to the work of all of Eataly’s global team members.”