Eataly Agrees to Deal to Sell Majority Stake [Private Equity Insights]

Private-equity firm Investindustrial aims to help Italian-marketplace chain expand globally

A European private-equity firm agreed to buy a controlling stake in Eataly SpA, with the aim of helping the Italian-marketplace chain continue to expand globally.

Investindustrial is taking take a 52% stake in Eataly. The imminent deal involves an investment of around €200m, equivalent to $199m, as well as the purchase of additional shares.

Eataly plans to use the investment to retire debt and open more flagship stores as well as develop new formats.

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Eataly was founded in 2003 by Oscar Farinetti, which will own the remaining 48% of the company. Its marketplaces feature a mix of restaurants and retail, all with a focus on Italian food and drink.

While not a household name in the U.S., Investindustrial has a decade-long track record of helping brands with European, and especially Italian, roots expand.

The firm, which has roughly €11b under management, took fashion label Ermenegildo Zegna Group public through a special-purpose acquisition company in 2021 and invested in spa-maker Jacuzzi Brands in 2019.

Source: WSJ

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Author: Sebastian