NEWS
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18/01/2018
For its first operation in italy, Cerea Capital II acquires Monviso
Cerea Capital II, managed by Cerea Partners, alongside the company's management and supported by Capzanine and Cerea Mezzanine, has acquired, from PM&Partners, Monviso, an Italian manufacturer of crackers, bread substitutes and sweet and savory biscuits.
With 130 employees and 4 facilities in northern Italy, Monviso had sales of approximately €M 36 in 2017, more than one third of which from exports. It is composed of two branches, Monviso (biscotto salute, bruschetta line, breadsticks, crackers and recently cookies under its own brand for retailers and in co-packing mainly for gluten-free) and Tonon (sweet and savory biscuits for retail exports, catering and ice cream manufacturers).
The resilience and profitability of the company is based on the strength of the Monviso brand in northern Italy, positioned at the high-end range for quality-healthy products, its know-how in gluten-free, palm oil-free, lactose free, etc. and its complementarity with Tonon (product, distribution channels, geographies) acquired in 2015.
This operation will allow Monviso's management, led by Manfredi Cusmano, to begin a new phase of its development around the following axes:- the extension of the Monviso range with new products, technologies and distribution channels, in Italy and abroad;
- the pursuit of new external growth opportunities in Italy and in Europe in healthy-nutrition niches such as organic, hypertension, diet and others;
- the automation and continuous improvement of industrial processes to further enhance quality and productivity.
Manfredi Cusmano, CEO of Monviso Group, added: "We are looking forward to this new partnership with an actor specialized in agrobusiness. It will allow us to consolidate our position in Italy and in Europe, while supporting our policy of innovation and presence in exports."
Gilles Sicard, Executive Managing Director of Cerea Partners, declared: "Monviso benefits from both a very strong, upmarket brand in northern Italy and the exportability of Italian grocery products. We intend to help the company seize all external growth and international development opportunities along these axes."
In line with its internationalization, Cerea Partners continues its development in Western Europe and, with Monviso, has completed its first investment in Italy.
Financing for the operation is completed by mezzanine debt provided by Cerea Mezzanine and Capzanine and senior bank debt led by Credit Agricole-Cariparma and Banca Nazionale del Lavoro (BNPParibas).
- the extension of the Monviso range with new products, technologies and distribution channels, in Italy and abroad;
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