Charterhouse Capital Partners has agreed to sell Casa Optima, a global leader in gelato and pastry ingredients, to a consortium led by consumer-focused private equity firm Terlos, according to Bloomberg.

The deal, set to close in Q1 2026, is supported by limited partners including IAG Chairman Javier Ferrán and a unit of the Abu Dhabi Investment Authority.

Financial terms were not disclosed, but sources close to the matter indicate a valuation approaching €900m ($1bn), including debt.

Founded in 1984 and headquartered in northern Italy, Casa Optima serves over 30,000 gelato shops and 6,000 pastry outlets across 150 countries. The company operates manufacturing sites in Italy and Brazil, offering a range of artisanal gelato, pastry, and beverage ingredients.

The sale marks a key portfolio realignment for Charterhouse, following its recent minority stake sale in European healthcare education provider Novétude Group and its acquisition of French fire safety systems specialist Estya. 

Charterhouse, which targets pan-European mid-market investments with enterprise values between €150m and €1.5bn, has returned approximately €2bn to investors since 2023. The firm is reportedly preparing for a new fundraising cycle in 2025, following the addition of former NatWest Group CEO Alison Rose as a senior partner.

Source: Bloomberg

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