Salmon supplier gets new owner

Salmon supplier gets new owner

Salmon supplier Starlaks Italia, which supplies Italy's major retailers, has sold itself to local private-equity firm Arcadia.

Starlaks Italia, set up in 2012, generated net revenues of EUR16.1m (US$19.6m) in its most recent financial year, which closed on 30 June. The company is based in Borgolavezzaro, around 80 kilometres north-east of Turin.

Alex Brustia, one of three Starlaks Italia founding partners, said: "In choosing a new shareholder who could continue along the path of growth achieved by the company in recent years, we have identified in Arcadia a financial operator with a solid industrial approach, able to seize future development opportunities."

Franco Rigamonti, who has "a long experience" in consulting and investment management, has been named Starlaks Italia chairman, Arcadia said. Rigamonti's previous positions including CEO of Italian events and exhibitions group Cose Belle d'Italia and chairman of coffee business Antica Tostatura Triestina.

Lelio Mondella, the former head of salad group Florette's business in Italy and previously the general manager of caviar business Calvisius USA, has been appointed CEO.

Simone Arnaboldi, Arcadia's CEO, said: "Starlaks is a successful company, developed by the founding partners on the basis of defining high product quality standards, reinforced by sustainability policies which represent, for Arcadia, one of the main drivers in the analysis of its investments. The Company has ample room for growth both organically and through the aggregation of other operators active in the same market segment, or in adjacent segments of the fish industry. The competitive context for Starlaks is in fact characterised by the presence of medium-small companies that could be added to the project."