- Client:Cronos Capital Partners S.r.l.
- Date:December 2020
Consumer and Retail
- Deal description:
Cronos Capital Partners S.r.l., a holding company entirely controlled by the founding partners Alessandro Besana and Lorenzo Bovo and by the associate Nicola Ambrosio, has completed the acquisition of a majority stake of the share capital of Everton S.p.A, an Italian Group headquartered in Genoa and an excellence in the Food&Beverage panorama, market leader in the production of tea, herbal tea and soluble drinks for the private label segment of the Modern Trade channel, with production plants in Italy, Croatia and India and a commercial joint venture based in the USA.
The partnership aims at supporting Everton’s development plan through investments and financing M&A transactions in Italian and foreign companies active in the same market segment in which the Everton Group operates.
Cronos Capital Partners will also support the Group in the development of new production lines and increasing the installed production capacity of Everton and its subsidiaries, as well as supporting its commercial growth in Italy and abroad.
Filippo and Federico Dodero, part of the Dodero Donelli Family, shareholder of the Everton Group since 1993, will remain at the helm of the Group, granting business continuity along with Federico Figini, Group CFO.
Over the last few years, Everton has become the reference player in the production and packaging of tea and herbal teas in filter and bags for Italian and foreign players in the Modern Trade channel, reaching a turnover in excess of euro 30 million in 2020, with more than 200 employees worldwide and recording a double-digit growth rate. These results were achieved thanks to the innovative business model and the investments made in the last ten years. Federico and Filippo Dodero have been able to integrate the production chain, starting a plant in India and an industrial partnership in Croatia with a company active in the cultivation of chamomile and medicinal herbs of which Everton itself is a shareholder.
Vitale acted as financial advisor, assisting Cronos Capital Partners in the definition of the structure and the conditions of the transaction and in its fundraising
- Deal value: