BUONA COMPAGNIA GOURMET SOLD TO AKSIA BY GRADIENTE AND SIPAREX INVESTIMENTI

Yesterday Gradiente I, alongside minority investor Siparex Investimenti 2, sold their 100% stake in Buona Compagnia Gourmet (“BCG”) to Aksia V. BCG operates in the production of fresh gnocchi and pesto sauces from production facilities in Italy and the US. Gradiente and Siparex acquired BCG in 2015 from another PE firm and transformed the firm from a small local producer to an international diversified player though the acquisitions of Sauces ‘n’ Love (Boston, US, 2017), Casa di Lisio (New York, US, 2019), Pasta Fresca Rossi (Modena, 2021) and Bear Pond Farm (Boston, US, 2021). The company sells its products (both through its own brands and private label) in Europe and the US to most of the main supermarket chains and to the foodservice market. AKSIA V acquired BCG in order to fulfil a buy and build strategy in the gourmet food production, begun with the acquisition of BCG competitor, Master Group.

“With the sale of Buona Compagnia Gourmet the life of Gradiente I fund is concluded. Gradiente I is our very successful first fund which will be fully liquidated by the end of the year. We acquired eight platforms sold to both strategic firms and private equity funds in a period spun from 2012 to 2022. Our second fund, Gradiente II, mostly subscribed by highly reputable international investors, is almost fully invested and soon we will start the fundraising of a third fund. We are very proud of the work we have done with BCG and grateful to all the people involved in its development, especially within the firm governed by the CEO Mr. Daniele Diotallevi. We had great fun acquiring the US companies and developing such great market” comments Pietro Busnardo, Gradiente CEO and founder.

“Siparex Investimenti has been extremely pleased to work with Gradiente in supporting BCG in its expansion, particularly in international markets, in line with the strategy of the Siparex Group to assist its portfolio companies in their organic growth and external development in export markets. We are confident that BCG will continue to achieve a profitable and successful growth under the new ownership”, comments Andrea Gianola, partner and CEO of Siparex Investimenti 2.

“With the acquisition of BCG, IFEX, Aksia platform, will enormously benefit in terms of technology, products expansion and, especially, international growth opportunities from our experience and global reach. I believe that we will enjoy great synergies between the two groups and that the combined entity will have a great success. Gradiente and Siparex have been fundamental with their help and support to our growth and success” comments Mr. Daniele Diotallevi, BCG former CEO and future IFEX executive.

Gradiente team, in addition to Mr. Busnardo, was composed by partner Fabrizio Grasso, investment manager Stefania Lotto and associate Massimiliano Doria. Siparex was represented by partner Andrea Gianola. Gradiente and Siparex were supported by Vitale & Co in the sale process (Alberto Gennarini, Valentina Salari and Azzurra Bisogno, Gabriele Karim Khamaisi), alongside PWC for the vendor due diligence and Studio SAT for the legal advice in Italy and law firm LLS for US legal advice.

Aksia was assisted by Long Term Partners, EY, Studio Russo De Rosa, Giliberti Triscornia e Associati, De Luca e associate, BC International and Mr. Attardo as advisors. Finance has been provided by Muzinich, Equita, Eurizion, Banco Azzoaglio and Banca Anteos.