Italian firms net E100m olive oil deal

B&S, Arca and Monte dei Paschi led by B&S have acquired the olive oil manufacturer for E101m.

Italian private equity firm B&S Private Equity is the lead sponsor in the E101m buyout of olive oil manufacturer Carapelli. The deal, which was completed earlier this month, enables Carapelli’s owner, French company Cereol, to focus on its core operations.

B&S has acquired a 59 per cent stake in the business with co-investors Arca Impresa Gestioni SGR (Arca) and the banking group Monte dei Paschi di Siena acquiring 27 per cent.

B&S partner Antonio Perricone said that he believed that Carapelli had considerable organic growth potential, although he added that acquisitions were an option, both in the edible oils sector and the broader food market.

Cereol was advised by Schroder Salomon Smith Barney.  B&S PEG and Arca were advised by Rondelli & Partners and London Court.

B&S Group targets investment opportunities in both manufacturing and service companies. It is currently investing from its E300m Italian Private Equity Fund III (IPEF III), which is managed by B&S Equities in Switzerland. Investors in the fund, which was marketed exclusively to non-domestic institutions, include HarbourVest Partners, JP Morgan, Swiss Life and Goldman Sachs.