Background

  • Gennaro Auricchio S.p.A. (Auricchio) is a global leader in manufacturing high-quality dairy products
  • Founded over 70 years ago in Brignano Gera d'Adda, Italy, 3BLatte Caseificio S.r.l. (3B Latte) specializes in the production of fresh, spreadable and camembert cheeses, and a leader in goat and buffalo mozzarella based products
  • 3B Latte's product portfolio includes more than 250 references under the 3BLatte brand and private label

Process

  • DC Advisory (DC) was engaged by Auricchio to act as their financial advisor and provide buy-side M&A advice
  • DC provided comprehensive financial and strategic advice, including process strategy and tactics, due diligence coordination, and close support in negotiations and transaction documentation
  • DC also provided thorough assistance in the negotiation and structuring of 3B Latte's debt package

Outcome

  • Following a detailed due diligence process, the parties signed the sale and purchase agreement on November 3, 2022. The transaction closed on December 1, 2022
  • Auricchio acquired 100% of the share capital of 3B Latte, with former shareholder Marco Bertoni reinvesting a 20% stake
  • The acquisition will unlock significant synergies from the combination of the two firms, both from a commercial and an operational perspective

“I would like to thank the DC team for their invaluable guidance throughout the process. DC has been an excellent partner during this journey, providing comprehensive advice to help us ensure a smooth and effective acquisition process. We are absolutely delighted with the outcome that Francesco and the team have helped us to achieve, and look forward to continuing the relationship.”

Alberto Auricchio
Shareholder and Board member, Auricchio Group