OpCapita Consumer Opportunities Fund II has reached a deal to purchase Italian restaurant operator Sebeto Group from London-based private equity firm Change Capital Partners.
An agreement has been signed between both parties, although OpCapita has not disclosed the financial terms of the deal. However, two sources with knowledge of the matter were quoted by Reuters saying that the transaction values Sebeto at more than €80m.
Sebeto, the owner of Rossopomodoro pizza chain, operates four other brands, Rossosapore, Anema e Cozze and Ham holy burger, in Italy and 11 other countries, with a total of more than 140 restaurants globally.
Rossopomodoro restaurant chain has more than 60 branches across the country and more than 20 outlets internationally, including the in the US, the UK, Germany, Denmark and Turkey.
Sebeto chairman and co-founder Franco Manna said: “OpCapita’s in-depth knowledge of European consumer-focused businesses means they are well-positioned to help Sebeto deliver on its objectives and support its foothold in not only the Italian market, but also in the wider European casual-dining sector.”
According to OpCapita, the Rossopomodoro brand has significant potential to further improve and grow in Italy and internationally, taking advantage of its Italian and Neapolitan identity.
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By GlobalDataWith this outlook, the fund has strengthened Sebeto’s management team with new appointments.
Former CEO of Benetton Marco Airoldi has been named as Sebeto’s executive deputy chairman, and former COO of Italian travel caterer Autogrill Roberto Colombo will become Sebeto’s CEO.
OpCapita managing director Joshua Spoerri said: “Rossopomodoro is an excellent concept with a strong Neapolitan heritage that has firmly established itself as the number one Italian pizza chain in the country and the only international Italian restaurant chain with genuine Italian provenance.
“It has a strong potential for further growth and we are truly excited to cooperate with Franco and Pippo in moving it to the next level, ensuring access to the necessary financial resources and reinforcing the management team with the strategic and operational competence provided by Marco and Roberto.”
Founders of Sebeto, Franco Manna and Pippo Montella, will continue to servce on the board.