Italian private equity investor Aksìa is to acquire a majority stake in bakery products producer Fornaio del Casale.
Financial terms were not disclosed, and the transaction awaits necessary regulatory approvals.
Aksìa is acquiring the stake from Riello Investimenti SGR and the founding Gecchele family.
Riello Investimenti SGR has held a majority stake since July 2023, alongside the Gecchele family. Both will be reinvesting and retaining a minority stake in the company.
Aksìa’s entry will support Fornaio del Casale in pursuing an “ambitious buy-and-build strategy to establish a leading group in the sweet and savory snack market”, the companies said in a joint statement.
Nicola Riello, chairman of Riello Investimenti SGR, believes Fornaio del Casale is “ready for a second phase of development focused on acquisitions and international expansion”.
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By GlobalDataSet up in 1969, Fornaio del Casale specialises in bakery products.
Operating under brands Gecchele and Antico Casale, it offers over 450 SKUs in cakes, pastries, bakery items, and carnival specialties.
The Casale sul Sile, Treviso-headquartered company distributes primarily through “large-scale” retail, with a network across Italy and expansion into Germany, France, and Japan.
According to Filippo Anichini, partner of Aksìa, Fornaio del Casale will “continue to pursue integration and consolidation both in Italy and abroad, leveraging the strong Gecchele brand and expanding its commercial footprint”.
The investors and baked goods company said they have identified four target companies for acquisition, with the deals expected by the end of 2025, contributing initial revenues exceeding €80m ($92.6m).
Currently, Fornaio del Casale €60m in revenues, with 25% coming from international markets.
The group has a 12,500 m2 facility with eight production lines.
The current leadership will remain, with Darix Gecchele as CEO and Samuele Gecchele as head of international sales and commercial products.
Darix Gecchele added: “With the entry of the new partner, a new phase of growth begins for Fornaio, which strengthens and accelerates the development path initiated in recent years. The Gecchele and Botter families confirm their commitment to the company’s capital, with the enthusiasm and passion that have always distinguished us.”
