Giochi Preziosi and Management have sold Preziosi Food Srl to Vertis SGR and Hat

June 2016 — In a management buy-out, Vertis SGR and Hat, two Italian private equity firms, have acquired Preziosi Food Srl from Grani & Partners, a controlled company of the Giochi Preziosi Group, and the management team. The three Preziosi Food's key executives – Enrico Grani (Chairman), Donato D'Alessandro (CEO) and Vito Spada (COO) – will reinvest alongside Vertis SGR and Hat.

Preziosi Food Srl, together with its sister company Mitica Food Srl, merged into Preziosi Food in July 2015. The company produces and distributes savory and sweet snacks sold with surprises/gadgets under license agreements (related to major movies, cartoons and toy characters). The company's main products are chocolate Easter eggs and potato chips, sold in Italy under the brands Dolci Preziosi and Salati Preziosi and under a private label (savory snacks only).

Based in Naples, Vertis SGR is an independent Italian management company of private equity and venture capital funds, mainly focused on companies located in central and southern Italy. Hat, based in Milan, is an investment company focused on growth capital for small and medium-sized enterprises.

Preziosi Food Srl is 60% owned by Grani & Partners, which is part of the Giochi Preziosi Group, and 40% by its executives Donato D'Alessandro (CEO) and Vito Spada (COO), with 20% each. Founded in 1978, the Giochi Preziosi Group is a leading Italian toys manufacturer and retailer, headquartered in Cogliate, close to Milan. With a turnover in excess of US$990 million, the group has distribution entities in the UK, France, Benelux, Germany, Austria, Switzerland, Spain, Portugal, Greece and Turkey. The retailing activity is managed in connection with the Artsana Group, with 600 points of sale under different brands – Toys Center (Italy), King Jouet (France), Bimbo Store (Italy) and Prenatal (Italy, Spain, Portugal and Greece) – and a wide network of franchisees. The Giochi Preziosi Group controls 60% of Grani & Partners, a company active in loyalty, fidelity, promotion and publishing, with 25 years of international experience and relationships with the major licensing groups. Grani & Partners is 40% owned by the family of Enrico Grani, the entrepreneur who still runs the company.

Our role in the transaction

Oaklins' team in Italy was engaged as the exclusive financial advisor to Preziosi Food's shareholders.