Progressio SGR, Consilium SGR and private shareholders have sold Gelit to Orange Capital Development

Gelit

Founded in 1977 and based near Latina, Italy, Gelit is a leading strategic partner in the development, production and packaging of premium private label frozen food, combining Italian heritage and significant international appeal.

Rich portfolio of premium products, with first course ready-meals representing the core business, complemented by savory crepes and ingredients, as well as recently launched, high-potential categories including sweet crepes and snacks.

Gelit is an environmental, social and governance (ESG) champion, standing out as the only B Corp in the frozen food sector in Italy, and one of few globally

The Deal

Gelit’s shareholders, Progressio SGR, Consilium SGR and private individuals, engaged Lincoln International as exclusive mergers and acquisitions (M&A) advisor to identify a new owner that could support the company’s next phase of growth.

Leveraging its extensive frozen food experience and its global network, Lincoln crafted a competitive process involving both strategic and financial potential buyers.

Gelit’s shareholders ultimately selected Orange Capital Development, with whom the company shares a strong commitment to sustainability, as the preferred investor to partner with during the next phase of its growth.

Our Perspective

Saverio Rondelli, Lincoln International Managing Director who led the transaction, commented, “Gelit has grown tremendously over the last years and is now best positioned to keep benefiting from its unique exposure to the U.S. market and from high-potential, recently unlocked initiatives. We are honored to have advised Gelit’s shareholders and to have identified the ideal partner to guide the company to the next level, while preserving its distinctive ESG-driven culture.”

Orange Capital Development

Orange Capital Development is the advisory company of Wealth Venture Fund (WVF), a multi-compartment investment fund focused on investments in renewable energy generation and sustainable food projects.

Through active management and no holding period limitations on its investments, WVF aims to drive value creation by capitalizing on key market trends, leveraging synergies with other portfolio companies and facilitating expansion into Asian and other international markets.

WVF’s investors operate globally within the agri-business sector across the entire value chain of oil seeds and its by-products, along with fast-moving consumer goods.

Progressio SGR

Progressio is an independent manager focused on the Italian mid-market segment. To date, it has managed funds totaling more than €810 million through four investment programs. Progressio invests in sectors of Italian excellence with an industrial approach, supporting companies in value-creation journeys while strengthening managerial organization, improving sustainability profiles and implementing digitalization projects. Demonstrating a strong commitment to ESG themes, Progressio is not only a principles for responsible investment signatory but also a B Corp and benefit company.

Consilium SGR

Consilium is an Italian independent asset management company dedicated to private equity. It manages three closed-end funds, with total assets of about €300 million. Consilium invests in buyouts and growth capital deals in sectors of Italian excellence, focusing on business-to-business with a strategic approach aimed at creating sustainable value. Throughout its history, Consilium has completed 24 investments in small and medium-sized enterprises and 18 add-ons for portfolio companies.

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