Green Arrow Capital buys into Europe’s second biggest chilled snacks maker Richetti

Italian private equity house Green Arrow Capital has bought a majority stake in Richetti, the second biggest European manufacturer of chilled snacks.

Richetti specialises in milk slices and bars sold in the dairy aisles of supermarkets, and is also active in the production of frozen Italian finger food specialties for the foodservice sector.

Last year Richetti reported over €50m and an EBITDA margin of about 15% of revenues. About 60% of those revenues were generated outside Italy.

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Eugenio de Blasio, chairman and CEO of Green Arrow Capital, said, “This acquisition is in line with the investment strategy pursued by Green Arrow Capital to back Italian champions in sectors where the country is second to none, such as food.”

Firm managing director Massimo Massari added, “We strongly believe that the investment in Richetti represents an exciting opportunity to capitalise on the growth prospects of the healthy snacking market, also through the widening of the products range.”

Green Arrow currently has about €2bn of assets under management, which it invests across private equity, private credit, clean energy and infrastructure.

The firm raised more than €230m for the final close of its third buyout fund in August 2018.

Source: AltAssets