CVC to buy 100% of Italian restaurant chain La Piadineria

Permira is the seller.

  • CVC will invest in La Piadineria via its Fund VIII
  • Permira acquired La Piadineria in 2018
  • CVC is a global private markets manager with around €177bn of assets

CVC Capital Partners has agreed to acquire 100 percent of La Piadineria, an Italian quick-service restaurant chain, from Permira.

CVC will invest in La Piadineria via its Fund VIII.

Lombardy-based La Piadineria has a team of over 2,500 people serving 70,000 customers every day. It has 400 restaurants across Italy.

Permira acquired La Piadineria in 2018. Under the firm, La Piadineria grew both revenues and EBITDA by three-fold, while DOS and employee numbers have increased from 160 to 400 and around 1,000 to more than 2,500, respectively, according to a release.

“CVC Funds will support the further growth journey of the Company, expanding its presence in Italy whilst diversifying across other quick-service formats as well as internationally,” said Alessandro Baccarin, director at CVC.

The transaction is subject to regulatory approvals and is expected to close in the first half of 2024.

CVC is a global private markets manager with around €177 billion of assets under management.

Permira is a global investment firm based in London.

CVC was advised by Lazard, Jefferies, PedersoliGattai, Bain & Co., OC&C, Alvarez & Marsal, New Deal Advisors, Facchini Rossi Michelutti. Permira was advised by Rothschild & Co, Mediobanca, Legance, BCG, E&Y, Simon-Kucher, Maisto & Associati.

No financial details of the transaction were disclosed.