Investindustrial invests in Eataly, a global Italian heritage foodservice and food distribution group, to bolster its international expansion

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NEW YORK–(BUSINESS WIRE)–An investment company of Investindustrial VII LP (“Investindustrial”) and Eataly SpA (“Eataly”, the “Company” or the “Group”)” 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 prestigious locations around the world.

The transaction provides for an investment of €200m and a simultaneous buyout by Investindustrial of part of the shares held by existing shareholders, which will lead Investindustrial to become the majority shareholder. The transaction provides that upon closing, Investindustrial will own 52% of the Company, with existing shareholders Eatinvest (Farinetti family), Baffigo/Miroglio family and Clubitaly (Tamburi Investment Partners) owning the remaining 48% of the Company. The investment will allow Eataly to repay its net financial debt and maximize financial flexibility for the Group’s global expansion plans.

Eataly runs its business with a philosophy of sustainability that aims to provide continued support to local agri-food supply chains and the export of excellent food products. The capital injection strengthens the company’s role as a global ambassador of “Made in Italy” food excellence, both through the opening of flagship stores and the development of new formats, as well as through the acquisition of all minority interests in the existing US operations of Eataly.

Nicola Farinetti, who currently serves as Chief Executive Officer, will assume the role of President of the Company. A new CEO will be announced shortly with a mission to lead the Company into its next phase of global growth.

Investindustrial, the Farinetti family, the Baffigo/Miroglio family and Clubitaly (TIP) intend to continue supporting the development of the business, both by opening new flagship stores and new formats in major cities, as well only by continuing on the path of sustainability that has characterized Eataly since its creation.

Eataly’s growth will be supported by Investindustrial and its in-depth knowledge of the food sector and its presence in the Italian, European, North American and Asian markets. Based in Italy, Eataly will continue its expansion in foreign markets such as North America, where it is already active with 8 flagship stores, and through continued development in Europe, as well as in the Middle East and Asia, where the Group is present with 16 stores. franchise stores.

Investindustrial has extensive experience in the food sector, in which it recently invested over €2.5 billion. To date, Investindustrial’s investments support the global development of various historic and iconic Italian companies focused on three segments: (i) private label food products, such as La Doria, one of Europe’s leading producers of pulses, of peeled tomatoes, tomato sauce and fruit juice, and a meal preparation business of Treehouse Foods; (ii) ingredient companies, such as CSM Ingredients, Italcanditi and Parker Food Group, and food technology companies such as Hi-Food, and (iii) hospitality, through the Dispensa Emilia restaurant chain.

Andrea C. BonomiChairman of the Advisory Board of Investindustrial, said: “We are delighted to be able to support Eataly, an example of Italian excellence in the world, as a long-term partner. Thanks to the vision and entrepreneurial capacity of the Farinetti family, Eataly represents a unique and innovative player that has led the revolution in the concept of high quality Italian cuisine all over the world. We look forward to supporting Eataly by leveraging our deep experience to help businesses grow globally with the highest ESG and sustainability principles. The collaboration between Investindustrial, the Farinetti family, the Baffigo/Miroglio family and Clubitaly (TIP) aims to support Eataly’s next stage of growth, preserve its unique DNA and maintain its profile of sustainability, control and integrity of the supply chain.

Nicolas FarinettiCEO of Eataly, said: “The agreement we have signed launches a strategic partnership that propels Eataly into a new phase in its history, accelerating its international growth. This partnership will allow us to strengthen our unique format in the world, to promote innovative projects related to innovation and to strengthen our capacities. are happy to take this new path with such a reputable partner as Investindustrial, who shares Eataly’s values ​​and vision, and has chosen to support us in achieving our goal of being the Italian ambassador of “Made in Italy” in the world. -how and the resources that Investindustrial will bring to the Eataly model represent an extraordinary lever to look to the future with more confidence and momentum, building on our history and in the continuity of the results obtained to date thanks to the work of all the ‘Eataly Global Team Members.’

Investindustrial was advised by Studio Legale Chiomenti and Kirkland & Ellis as legal advisor, Deloitte as accounting and tax advisor, Boston Consulting Group for commercial due diligence and UniCredit as financial advisor. Investindustrial was also supported by Ramboll (environment, health and safety) and by WTW (insurance).

Eataly was supported by Studio Legale e Tributario Fivelex, for legal aspects of Italian law, as well as by Tarter Krinsky & Drogin LLP, Danow, McMullan & Panoff, PC and Olshan Frome Wolosky LLP, for legal questions in the United States, as well as Biscozzi Nobili Piazza in Italy for tax matters.

About Investindustrial

Investindustrial is a leading European group of independently managed investment, holding and advisory companies with €11 billion in capital raised. With ESG principles deeply embedded in the core business approach, Investindustrial has over 30 years of experience providing capital, industry expertise, operational guidance and global platforms to mid-market companies. to accelerate sustainable value creation and international expansion. Certain Investindustrial Group companies are authorized and subject to regulatory oversight by the FCA in the UK and the CSSF in Luxembourg. Investindustrial’s investment companies act independently of each other and of each Investindustrial fund.

Additional information is available at www.investindustrial.com

About Eataly

Eataly, founded in 2003 by Oscar Farinetti, is focused on providing high quality, sustainable products for everyone. Eataly is the world’s largest Italian retail and dining experience, transforming the way consumers enjoy Italian food, drink and culture across markets, counters, cafes, restaurants and educational offerings . Eataly currently has 44 stores in 15 countries, including Italy, the United States, Canada, the United Arab Emirates, Japan, Germany, Great Britain, France, Sweden and Brazil. And it is implementing a major plan of openings in some of the biggest cities in the world. The group, headquartered in Monticello D’Alba (Cuneo), has an expected turnover of around 600 million euros by 2022.

Additional information is available at eataly.net

Investindustrial Advisors Limited is registered in England and Wales with its registered office at 16 Palace Street, London SW1E 5JD and company number 01316019. Investindustrial Advisors Limited is authorized and regulated by the Financial Conduct Authority of the United Kingdom (Financial Services Register number: 170924).

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