Sparfin has acquired 74% stake in Generale Conserve
Lincoln International Srl (“Lincoln”), a leading global mid-market investment bank, is pleased to announce that Sparfin, a vehicle fully owned by Mr. Adolfo Valsecchi, has agreed to acquire 74% of Generale Conserve SpA (“Generale Conserve”), the leading Italian canned seafood and preserved food producer. The acquisition occurred due to the conversion of a bond issued in 2014.
Generale Conserve is one of the largest Italian producers of premium canned tuna under the well-known brand As do Mar, of canned meat under the brand Manzotin and of preserved tomato under the brand De Rica. In 2015, the company will have net sales exceeding Euro 170 million.
Commenting on the deal, Adolfo Valsecchi, majority shareholder of Generale Conserve, said, “We hired Lincoln International because we knew that they would expertly guide the complex two-step acquisition process, which began one year ago with the emission of a convertible bond and ended successfully with the 2015 conversion of the bond into Generale Conserve equity.”
Lincoln acted as the exclusive financial advisor to Sparfin/Adolfo Valsecchi, working closely with the entrepreneur and his counterparts throughout the acquisition process. This included providing advisory expertise and managing the negotiation phase of the transaction.
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