Secondary Buyout • Restaurants

CVC Capital Partners and Cerea Partners Acquire La Piadineria

On January 15, 2024, private equity firms CVC Capital Partners and Cerea Partners acquired restaurant La Piadineria from Permira

Acquisition Context
  • This is CVC Capital Partners’ 6th and Cerea Partners’ 7th transaction in the Restaurants sector.
  • This is CVC Capital Partners’ 15th and Cerea Partners’ 3rd transaction in Italy.

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M&A Deal Summary

Date January 15, 2024
Target La Piadineria
Sector Restaurants
Buyer(s) CVC Capital Partners
Cerea Partners
Sellers(s) Permira
Deal Type Secondary Buyout

Target Company

La Piadineria

Montirone, Italy
La Piadineria offers freshly made “Piadinas”, a typical Italian product consisting of flatbreads filled with a broad variety of ingredients. La Piadineria was founded in 2000 and is based in Montirone, Italy.
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Buyers Overview 2

Buyer

CVC Capital Partners

Luxembourg, Luxembourg

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 177.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

CVC Capital Partners is a global private equity firm focused on investments in large companies located in Europe, North America, and Asia. CVC looks for opportunities with stable cash flows and talented management, and will consider businesses in a variety of industries. Target sectors include textiles, industrial products, waste management, building materials, energy/utilities, business services, financial services, distribution, healthcare, media, semiconductors, and gaming. CVC can handle transactions valued from €200 million to €10 billion. CVC Capital Partners was formed in 1981 and is based in Luxembourg.


Deal Context for Buyer #
Overall 320 of 329
Sector: Restaurants 6 of 6
Type: Secondary Buyout 74 of 78
Country: Italy 15 of 15
Year: 2024 2 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-15 Sunday Natural

Berlin, Germany

Sunday Natural is a brand for premium nutrition in German-speaking countries. Its unique formula is based on a premium product range inspired by nature and its True Clean Label philosophy which ensures quality, purity, and transparency at every stage of the value chain. Sunday Natural is based in Berlin, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-09 Jagex

Cambridge, United Kingdom

Jagex is a video game developer and publisher focused on creating a deep and engaging living game on PC and mobile. Its flagship RuneScape and Old School RuneScape, on PC and mobile, offer ever-evolving, highly active worlds, and community-focused development ethos empowers players to have a real say in how each game is shaped. Jagex was founded in 2000 and is based in Cambridge, United Kingdom.

Buy -
Buyer

Cerea Partners

Neuilly sur Seine, France

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 1.5B EUR
Size Large
Type Sector Focused
DESCRIPTION

Cerea Partners is a specialist investment firm focused on investing in and providing finance to agriculture and related sustainable food businesses. Cerea primarily targets companies in Western Europe and looks to invest in companies valued between €20 and €500 million. Prospective transaction situations includes LBOs, LBIs, OBOs, and spin-offs. Cerea Partners was formed in 2004 and is based in Paris, France.


Deal Context for Buyer #
Overall 64 of 72
Sector: Restaurants 7 of 8
Type: Secondary Buyout 22 of 22
Country: Italy 3 of 4
Year: 2024 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-31 AB Process

Landivisiau, France

AB Process designs and integrates custom robotic and automated solutions to automate processes, in particular end-of-line automation for the food industry. The group works with its clients from design to delivery of turnkey projects. AB Process was founded in 2008 and is based in Landivisiau, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-01 MG2MIX

Chateaubourg, France

MG2MIX is an independent premix producer, specialized in premix manufacture and advices in animal nutrition (poultry, swine, cattle, aqua, pet). MG2MIX was founded in 1989 and is based in Chateaubourg, France.

Buy -

Seller Profile 1

SELLER

Permira

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1985
PE ASSETS 80.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Permira is a mega-sized private equity firm that targets large company investments around the world. Permira invests to support acquisitions, leveraged buyouts, take-privates, turnarounds, and growth buyouts. Areas of interest include healthcare, financial services, chemicals, consumer products and services, industrial products and services, technology, media, and telecom. Permira will consider opportunities in Europe, Asia, and North America. Permira was formed in 1985 and has offices in Menlo Park, Frankfurt, Luxembourg, London, Hong Kong, Madrid, Milan, Paris, Stockholm, Tokyo, Guernsey and New York City.


Deal Context for Seller #
Overall 91 of 97
Sector: Restaurants 4 of 4
Type: Secondary Buyout 26 of 29
Country: Italy 9 of 9
Year: 2024 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-08 GGW

Hamburg, Germany

GGW is a property & casualty (“P&C”) focused insurance broker mainly serving SMEs in the DACH region. GGW do even more! In addition to excellent advice on all insurance issues, GGW provide additional services to ensure the corporate security of customers over the long term - so that they can concentrate on their core business with peace of mind. GGW is based in Hamburg, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-04 Alter Domus

Luxembourg, Luxembourg

Alter Domus is a provider of fund administration and corporate services to the alternative investment industry. Alter Domus was founded in 2003 and is based in Luxembourg, Luxembourg.

Sell -

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