The private equity powerhouse Investindustrial snapped up a controlling stake in Eataly this morning, paving the way for global expansion.
Acquiring 52 per cent of the luxury Italian food brand, Investindustrial said the deal would lead to €200m in investment, as well as share purchases from existing shareholders.
“The investment will allow Eataly to retire net financial debt and maximise financial flexibility for the group’s global expansion plans,” Investindustrial said in a statement.
The remaining stake in the family-owned company will remain with its current investors, the Farinetti family and Tamburi Investment Partners.
Eataly has more than 40 stores across the US, Europe, Asia and the Middle East. It also has a flagship store by London’s Liverpool Street station.
The current chief exec Nicola Farinetti, whose father founded the company in 2007, will become the new chairman, with a new CEO to be announced in the coming months.
“The agreement we signed launches a strategic partnership that propels Eataly into a new phase of its history, by accelerating its international growth,” Farinetti said. “This partnership will allow us to strengthen our unique format worldwide, promote innovative projects related to innovation and enhance our capabilities.”