La Cesenate Conserve Alimentari acquires control of Alce Nero from CONAPI. Scouting advisor of the transaction
Bologna, 3 September 2019 -‘ La Cesenate Conserve Alimentari S.p.A. takes the control of Alce Nero S.p.A. acquiring the shares sold by CONAPI and increasing its stake from 39% to 51%. Scouting SpA originated the transaction arranging a Club Deal of private investors that was finally completed by La Cesenate Conserve Alimentari S.p.A.
Alce Nero S.p.A. produces and sells organic and fair-trade food products. A brand that includes over one thousand organic farmers and processors, Alce Nero is the leading brand in Italy in terms of spontaneous knowledge of the entire organic sector (Nielsen 2018 research), with consolidated revenues in 2018 of almost €75.6 million and a net profit of €1.1 million.
La Cesenate Conserve Alimentari S.p.A. operates in the industry of preserved food, with focus in the baby food industry and organic products. La Cesenate entered the capital of Alce Nero in 2004, becoming its main shareholder in the following years, and in 2017 La Cesenate reported revenues of €42.8 million, with a net profit of almost €2 million.
CONAPI – Consorzio Apicoltori ed Agricoltori Biologici Italiani Soc. Coop. Agricola – produces, processes and markets honey and hive products and represents the largest cooperative enterprise among beekeepers in Italy and among the most important in Europe. In 2018 CONAPI reported revenues of €22 million. CONAPI was one of the founding partners of Alce Nero and operates on the organic market with the brand Mielizia.
Scouting Capital Advisors, an independent Corporate Finance and M&A advisory firm, acted as financial advisor for the whole transaction through the team composed of Rinaldo Sassi (CEO) and Richard Pratissoli (Manager).
TNV Studio Legale Associato acted as legal advisor of the transaction. The TNV team was composed by the partners Filippo Traviglia and Claudio Vernetti.