Private-equity firm Chequers Capital has taken over Italy-based ready-meals maker Gourmet Italian Food.
The financial terms of the transaction were not disclosed.
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Chequers Capital said it bought Gourmet Italian Food from investors the private-equity firms Alcedo, and FVS, as well as unnamed minority shareholders.
The new owner said it will support Gourmet Italian Food “in continuing its growth and strategic market positioning, including through targeted acquisitions”.
Gourmet Italian Food was created as a platform to “aggregate leading companies” producing “high-quality” ready meals selling into retail and horeca clients.
All founding entrepreneurs of the companies within Gourmet Italian Food have “reinvested” in the group and the “top-tier” management team – co-ordinating various business units – has also “co-invested” alongside Chequers Capital.
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By GlobalDataWhat Chequers Capital described as the “GIF project” was launched in 2019 with Alcedo acquiring a majority stake in Eurochef Italia.
In 2021, Eurochef Italia merged with La Gastronomica under the joint initiative of Alcedo and FVS, forming the foundation for Gourmet Italian Food.
The group then expanded through a series of targeted acquisitions. These included the integration of Brescia-based Fabian, specialising in savoury snacks and sandwiches and Maerne, Venice-based ultra-fresh gourmet products maker Cucina Nostrana and its affiliate Deppieri, specialising in sandwich bread.
In 2023, the company acquired Firma Italia, a Muggiò-based company which produced dehydrated ready meals “with a strong export focus”.
Gourmet Italian Food added the brand 100grammi, specialising in “healthy and balanced meals”, in 2024.
Chequers Capital highlighted the impact of these integrations, noting that “strong commercial, industrial, and marketing synergies” have helped it gain a “leading” position in the Italian ready meals segment.
“It has established itself as a high-standing partner for major supermarkets, offering a complete portfolio of premium products,” the statement added.
In a LinkedIn post, Alcedo Sgr managing partner Filippo Nalon said: “This (deal) marks the culmination of an incredible journey in which, under Alcedo’s guidance, we transformed a €17m ($18.6m) company into a market leader with over €140m in revenue in 2024”.
The group, which has six production facilities and more than 450 employees “stands as the undisputed market leader in Italy’s ready-meals sector, leveraging an extensive portfolio of premium-quality products and a state-of-the-art production footprint,” Nalon added.
All founding entrepreneurs of the companies within Gourmet Italian Food have “reinvested” in the group and the “top-tier” management team – co-ordinating various business units – has also “co-invested” alongside Chequers Capital, the private-equity firm’s statement read.
