Clearwater International advises Taste of Italy 2 on the acquisition of a majority stake in Gastronomica Roscio S.r.l
Clearwater International 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 the acquisition of a majority stake in Gastronomica Roscio S.r.l.
Established in 1961 by the Roscio family and headquartered in Vidigulfo (Pavia), Gastronomica Roscio, is a leading Italian manufacturer of fresh and frozen ready meals. Its products, distributed both through the Roscio brand and private labels, are sold to large-scale distribution players and tier-1 international brands.
With its state-of-the-art production plant located in Pavia, in 2019 Gastronomica Roscio registered €29m in revenues and an EBITDA in excess of €5m.
Taste of Italy 2, leveraging on Gastronomica Roscio’s established ability to develop new products, aims at supporting the company’s future growth strategy both in the Italian and international markets by strengthening existing client partnerships as well as acquiring new accounts. External growth through acquisitions might be envisaged in the future.
The Roscio Family will retain a minority stake in the company along with Taste of Italy 2, and Mr Francesco Roscio will maintain its operating role as Chairman, with specific proxies on the product development side.
Clearwater International also provided its debt advisory support to DeA Capital lso, advising the fund on the structuring of financing for the acquisition. The transaction was financed by a pool of banks composed of Crédit Agricole and Intesa Sanpaolo.