EQUITA assisted Valpizza

EQUITA K Finance - Mid-market M&A advisory
Valpizza   C&D (Ghiottelli) 700X1050
Valpizza   C&D (Ghiottelli) 700X1050

Aksìa Capital V, a fund managed by Aksìa Group SGR, acquires, through its investee Valpizza, a majority stake of C&D, an Apulian company leader in the production of pre-fried frozen oven-baked gastronomic specialties.

Aksìa Group was assisted by the law firm Giliberti Triscornia e Associati for legal and labour aspects, by PWC for the financial due diligence, by Studio Legale e Tributario Russo De Rosa Associati for tax matters, by EY for ESG aspects and debt advisory and by Equita K Finance, Italian partner of Clairifield International and part of Equita Group, as buy-side advisor.

The financing of the transaction was organised and structured by Crédit Agricole Italia, agent bank, and Intesa Sanpaolo, advised by Studio Legale Dentons.

The Carbonara family, which reinvested in the transaction, was advised by Alessandro Colaianni, for the financial advisory activities, and by Giuseppe Chiaia Noya, lawyer, for the legal aspects. Notary Michele Labriola advised the parties during the closing.

Thanks to the acquisition of C&D, Valpizza continues the expansion strategy started after the entry of Aksìa, in July 2020, and further consolidates its position on the domestic and international market, expanding its portfolio with high quality and innovative products, which combine the Mediterranean gastronomic tradition with new ways of consumption.

“We recognised in C&D a player with strong growth potential in which to invest,” said Marco Rayneri, Founding Partner of Aksìa Group. “The objective is to replicate the international success of Valpizza, exporting the new products to geographical areas where the brand is already recognized. I am sure that the synergies between Valpizza and C&D will lead to the achievement of new strategic goals”.

Marco Setti, CEO of Valpizza added: “C&D’s business is complementary to ours and the integration into the Group, both industrial and commercial, will allow us to enter the finger food and convenience segment, where we have identified significant growth trends”.

The transaction in a nutshell

2021 05 Tombstone Ghiottelli Aksia Valpizza

With the acquisition of C&D, Valpizza continues its expansion strategy and further consolidates its market positioning by expanding its portfolio with high-quality and innovative products

June 2021
Aksìa Capital V acquires, through its investee Valpizza, a majority stake in C&D
Financial Advisor
M&A advisory
EQUITA Mid Cap Advisory

The company

A family-run company, founded in 1993 in Capurso (Bari) by the Carbonara family, who will continue to hold over 20% of the shares, C&D offers a wide range of pre-fried frozen products, finger foods and single-portion snacks to the Retail, FoodService and Street Food markets. C&D’s product portfolio includes panzerotti, calzones, mini hot dogs, other pre-fried and frozen bakery specialties ready in a few minutes, the result of a constant search for high quality raw materials. In recent years the company has grown thanks to important collaborations with international players in the world of FoodService and large-scale distribution

Valpizza, based in Valsamoggia (Bologna), is a leader in the production of frozen pizzas with a production capacity of over 80 million pizzas a year. Thanks to a strategic plan focused on product innovation and the creation of value within the supply chain, the company has consolidated its market leadership with its own and distributor brand products on all continents.

For Valpizza, the acquisition of C&D is the second add-on, after Megic Pizza, carried on through the Aksìa Capital V fund in November 2020. The transaction is part of the strategy to enhance the national and international commercial network, implementing the global offer with products of high value in terms of quality and service.