Bluegem Capital Partners has entered a strategic partnership with Lagfin, the Luxembourg-based holding company controlling Campari Group, as it prepares for its next phase of expansion across the European consumer staples market.

As part of the deal, Lagfin has acquired a minority stake in Bluegem and committed to anchor the firm’s upcoming funds. The transaction, which remains subject to regulatory approval, signals a major endorsement of Bluegem’s focused investment strategy in B2B and B2B2C non-discretionary consumer businesses.

“At a time when Europe is attracting growing attention from institutional investors, the partnership with Lagfin is both a strategic move and a testament to the strength of our preeminent focus on B2B and B2B2C consumer staple,” Bluegem exclusively told Private Equity Insights. “Presenting Bluegem alongside one of the most iconic European brands enhances our visibility and credibility, both with investors and with target companies who recognise the value of partnering with a platform backed by Campari’s legacy and network.”

With approximately €1bn raised and managed to date, Bluegem has established a differentiated position in the European mid-market by investing exclusively in cash-generative, resilient businesses producing low-ticket, repeat-purchase products in segments such as food, beauty, personal care, pet care, and home care.

Lagfin’s investment will not affect Bluegem’s operations or decision-making processes. However, it marks a leadership transition at the firm: Emilio Di Spiezio Sardo has been appointed CEO, succeeding founding partner Marco Capello, who will retain oversight of existing portfolio companies but will no longer participate in new investments.

“Together we share the vision that real economy investing in B2B consumer staples, once removed from the discretionary side, sits next to healthcare, business services, and software as a fourth pocket of resilience and growth,” said Di Spiezio Sardo in the official announcement.

Bluegem was advised by Latham & Watkins and Chiomenti, while Lagfin was advised by PedersoliGattai.

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