M&A Deal Summary

Massimo Zanetti Beverage Group Acquires Nutricafes S.A.

On July 12, 2016, Massimo Zanetti Beverage Group acquired food company Nutricafes S.A. from Explorer Investments and MCH Private Equity for 75M EUR

Acquisition Highlights
  • This is Massimo Zanetti Beverage Group’s 1st transaction in the Food sector.
  • This is Massimo Zanetti Beverage Group’s largest (disclosed) transaction.
  • This is Massimo Zanetti Beverage Group’s 1st transaction in Portugal.

M&A Deal Summary
Date 2016-07-12
Target Nutricafes S.A.
Sector Food
Buyer(s) Massimo Zanetti Beverage Group
Sellers(s) Explorer Investments
MCH Private Equity
Deal Type Add-on Acquisition
Deal Value 75M EUR

Target

Nutricafes S.A.

Amadora, Portugal
Nutricafés, S.A. produces and markets coffee and operates restaurant. The company engages in the production, management and marketing of key coffee brands such as Nicola and Chave D'Ouro in Portugal. Roasting and distribution of coffee. Nutricafés is the 3rd largest operator in the Portuguese coffee market with highly trusted and prestigious brands and with 22% market share in Lisbon and around 9% across Portugal. With two distinct leading brands: “Nicola Cafés” and “Chave D’Ouro” and with its complete product & services bundled offering Nutricafés currently covers 10,000 clients in the Out-of-Home and 83% of retail chains.

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Buyer(S) 1

Buyer

Massimo Zanetti Beverage Group

Villorba, Italy
Category Company
Sector Food
Employees3,071
DESCRIPTION

Massimo Zanetti Beverage Group S.p.A. engages in the production, processing and marketing of roasted coffee and other selected categories of colonial products, distributed in about 110 countries. The Group manages the different activities, from procurement to consumption, operating 18 facilities across Europe, Asia and the Americas, and through a global network of about 400 coffee shops in 50 countries. Moreover, MZBG completes the range of its products through the sale of coffee makers and complementary products, such as tea, cocoa, chocolate and top quality spices.

DEAL STATS #
Overall 2 of 2
Sector (Food) 1 of 1
Type (Add-on Acquisition) 2 of 2
Country (Portugal) 1 of 1
Year (2016) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-21 Boncafé International Pte

Singapore, Singapore

Boncafé International Pte Ltd. is a manufacturer of coffee, tea and foodsevice equipment.

Buy $85M

Seller(S) 2

SELLER

Explorer Investments

Lisbon, Portugal

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2003
PE ASSETS 1.4B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Explorer Investments is a private investment firm that looks to fund buyouts, as well as provide expansion and replacement capital to middle-market Portuguese companies. Explorer looks to invest a minimum of €15 million in transactions valued up to €150 million. Explorer does not have any sector preferences and typically holds investments for three to six years. Explorer Investments was formed in 2003 and is based in Lisbon.

DEAL STATS #
Overall 7 of 18
Sector (Food) 1 of 1
Type (Add-on Acquisition) 3 of 6
Country (Portugal) 4 of 15
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-01 BBG Aluminium Systems

Braga, Portugal

BBG Aluminium Systems manufactures and assembles a multitude of metallic products such as metal structures, railings, and guardrails, doors, windows, fixed and ventilated glass curtain walls. BBG Aluminium Systems was founded in 2008 and is based in Braga, Portugal.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-01 Gascan

Lisbon, Portugal

Gascan is a player in the piped LPG segment in Portugal, serving more than 65,000 domestic clients located throughout the country. The company manages its own supply infrastructure, comprising over 2,000 tanks and nearly 750km of associated pipes, and supplies over 12,000 tonnes of LPG each year. Gascan was founded in 1993 and is based in Lisbon, Portugal.

Sell -
SELLER

MCH Private Equity

Madrid, Spain

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1998
PE ASSETS 1.3B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

MCH Private Equity is a private investment firm focused on mid-sized opportunities in Spain and Portugal. MCH invests in businesses exhibiting growth potential (organic/add-on), ability to improve operating margins, and consistent cash-flows. MCH is a generalist investor, however the Firm has a strong interest in sectors/markets undergoing consolidation. The Firm's target investment size is €15 to €45 million. MCH was formed in 1998 and is based in Madrid.

DEAL STATS #
Overall 16 of 18
Sector (Food) 2 of 3
Type (Add-on Acquisition) 9 of 9
Country (Portugal) 1 of 1
Year (2016) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-01 Comess Group

Madrid, Spain

Comess Group operates a chain of ethnic restaurants in Spain, Portugal, Andorra, Italy, Turkey, France, Germany, Mexico, and the United States. Comess Group was founded in 1988 and is based in Madrid, Spain.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-31 Cloverty

Madrid, Spain

Cloverty is a pharmaceutical laboratory in Spain dedicated to the development, design and manufacture of soft gelatin capsule products for other laboratories, especially for the pharmaceutical, sports, nutritional and cosmetic sectors. Cloverty was founded in 2008 and is based in Madrid, Spain.

Buy -
Mergr

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