Clearwater has advised Hyle Capital Partners SGR (Hyle), an Italian private equity firm, on the acquisition of a majority stake in Ciemme Alimentari, a leading Italian player in the production, distribution, and sale of high-end potato gnocchi, as well as a supplier to well-known pasta and mass retail brands, through the managed fund of “Finance for Food One”.
Ciemme Alimentari, founded in 2005 and headquartered in Barletta, Italy, has emerged as one of the prominent industry leaders in the country. The company is recognised for its high quality and broad product portfolio, as well as its production efficiency. In 2023, Ciemme Alimentari expects to reach a turnover of more than €40m, up more than 40% from 2022, and with an export share exceeding 30% of its sales mainly in France, US, Canada, and Germany.
Hyle is an independent and institutional asset management company operating in Italy promoting and managing closed Alternative Investment Funds (AIFs) to perform investments, aimed at developing excellence in the agrifood supply chain, for the enhancement of “Made in Italy” across Italy and abroad.
This transaction consists of a MBO with the fund entering Ciemme Alimentari's share capital, including a majority stake in partnership with the company's current shareholder.
Clearwater’s Debt Advisory team also assisted Hyle, within this transaction.
