Clearwater International advises DeA Capital Alternative Funds SGR on raising finance to support the acquisition of a majority stake in the share capital of Ekaf S.p.A.
Clearwater International’s Debt Advisory team has advised Taste of Italy 2, an Italian private equity fund focused on the agri-food industry and managed by DeA Capital Alternative Funds SGR, on raising finance to support the acquisition of a majority stake in the share capital of Ekaf S.p.A.
Owner of the Cellini brand, Ekaf was acquired in 1990 by the Pieri family which has been active in the coffee market since 1933 through its own roastery based in Livorno. Over the past 25 years Ekaf has developed a growth path both in the HoReCa sector, supported by the acquisition of Arcaffè, and in the modern trade sector, mainly focused on capsules and pods. Today Ekaf is a leading Italian company in the coffee market with high quality products including coffee beans, ground coffee, capsules and pods, based in Genova with total revenues of approximately €40m generated both in Italy and abroad.
Taste of Italy 2, leveraging on Ekaf’s consolidated industrial and marketing abilities, aims at supporting the company’s future growth strategy both in the Italian and international markets by strengthening the existing distribution channels and markets covered. External growth through acquisitions might be envisaged in the future.
The Pieri Family will retain a minority stake in the Company along with Taste of Italy 2, sharing and supporting the DeA capital growth strategy with the goal of promoting the handover between the family’s generations.
The transaction has been financed by a group of banks including Crédit Agricole Italia, who acted as agent, and MPS Capital Services.