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Italy’s Cesare Fiorucci Gets New Owners

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Italy’s Cesare Fiorucci Gets New Owners

 

Sigma Alimentos, a Mexican food company, has completed the sale of Cesare Fiorucci, an Italian cured meat producer, to Fiorucci Holding. Fiorucci Holding is a joint venture between Germany’s Navigator Capital and Ireland’s White Park Capital.

This transaction encompasses Cesare Fiorucci and its affiliated entities in Italy and Germany. It encompasses two production facilities located in Santa Palomba (Rome) and Lesignano de’ Bagni (Parma), as well as the Fiorucci brand’s presence in Europe.

The revenue contribution from these operations and brands constituted approximately 2% of Sigma Alimentos’ consolidated revenues in 2022.

The sale aligns with Sigma Alimentos’ strategy to boost profitability in Europe by concentrating on core markets within the continent and accelerating the expansion of EBITDA margins in the region. Specific financial details of the deal have not been disclosed.

The new owners of Cesare Fiorucci, Navigator Capital and White Park Capital, bring unique expertise to the table. Navigator Capital, headquartered in Düsseldorf, specializes in acquiring non-core assets from prominent European industrial groups to enhance their profitability.

Meanwhile, White Park Capital, a family investment holding company headquartered in Dublin, focuses on revitalizing businesses through reorganization and relaunch efforts.

The new shareholders are eager to revitalize the historical brand’s product offerings and distribution, both in Italy and internationally. The shared objective is to restore the 170-year-old company and its brand to a level of profitability and growth that corresponds to its potential.

The envisioned plan involves an initial phase of reorganization, followed by a growth stage supported by substantial investments. Cesare Fiorucci is set to receive significant financial resources as part of this recapitalization.

Cesare Fiorucci, established in 1850, holds a prominent position in the Italian cured meats sector. Headquartered in Pomezia near Rome, the group specializes in producing cooked hams, raw hams, seasoned specialties, mortadella, salami, and frankfurters.

Its portfolio includes well-established brands such as the Suprema mortadella, Sopraffino and Fiordicotto cooked hams, Il Guanciale, the Corallina, and the roasted Rostello ham.

 

Source

GSN

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