The investment Fund Taste of Italy 2, managed by DeA Capital Alternative Funds SGR S.p.A., has acquired a significant stake in the capital of the Spanish restaurant chain Pizzerias di Carlo S.L. (“Pizzerias Carlos”).
With 73 stores across Spain, 39 of which franchised, the group is immersed in an outstanding expansion process, progressively confirming is position among the leading pizza brands in Spain.
Pizzerías Carlos has been active in the Spanish market since 2009, has experienced a stable growth over the years, even during the pandemic period, thanks to its outstanding positioning within the delivery market. In 2021, the company had a turnover of 40 million euros, which represents an increase of 26.5% over the previous year, and the success of a team of more than 1,800 professionals.
According to DeA Capital Alternative Funds’ Managing Director, Leopoldo Reaño:
“we are enthusiastic about supporting the team led by Francesc Ros and Xavier Crespo in the development of their expansion project in the Iberian Peninsula. Pizzerias Carlos has shown a significant capacity to grow, even in difficult times for the Horeca sector such as Covid-19, and we are convinced of its ability to continue developing, based on the attention to the quality of its products and its excellent customer service, both in the in-store service and in home delivery”.
Francesc Ros, CEO and partner of Pizzerias Carlos, is also satisfied with the transaction: “the transaction represents an important boost for the company’s growth perspective, as well as a recognition of the trajectory and potential of Pizzerias Carlos as a reference player in the pizza sector”.
Xavier Crespo, COO and partner of Pizzerias Carlos, adds “the onboarding of Taste of Italy 2 to the capital of the chain will allow us to continue betting on innovation and constant adaptation of the products and type of services offered, based on a model that shapes our differential value with respect to other market proposals.
Gianandrea Perco, CEO of DeA Capital Alternative Funds SGR comments:
“we are very pleased with our continued growth in Spain, this proves our commitment to a key region for DeA Capital Alternative Funds”.
Tresmares Capital, the alternative financing platform promoted by Banco de Santander, has provided several lines of credit to support the development of Pizzerias Carlos’ business plan.
The partners of Pizzerias Carlos have been advised by Houlihan Lokey and Hogan Lovells, while DeA Capital Alternative Funds has been advised by V4 Financial Partners, Garrigues, PwC, Marsh and ERM.
About Pizzerias Carlos
Pizzerías Carlos is a Spanish restaurant chain of home delivery and restaurant service that opened its first establishment in the Madrid town of Alcobendas in 2009, with the aim of recovering the essence of its star product, pizza. Today, the chain has 73 stores spread throughout Spain (34 of its own) and more than 1,800 employees.
Its commitment is based on a quality product and service, with a wide range of proposals and recipes including pasta and salads, and a competitive pricing policy versus the large companies in the sector.
More information: www.pizzeriascarlos.es
About Taste of Italy 2 and DeA Capital Alternative Funds
Taste of Italy 2 is a private equity fund reserved for institutional investors with €330 million of subscribed capital, managed by DeA Capital Alternative Funds SGR S.p.A. The fund invests in leading companies in Italy and the Iberian Peninsula in the food and beverage sector, and in the supply chain that serves it.
DeA Capital Alternative Funds SGR S.p.A., founded in December 2006, it is 100% controlled by DeA Capital S.p.A., a company of the De Agostini Group. DeA Capital Alternative Funds SGR is the leading independent Italian asset manager in the alternative asset sector, with € 5.5 billion of assets under management, invested in particular in global funds of funds, in sectoral direct funds investing in mid-caps, in DIP (Debtor-in-Possession) Financing, as well as in NPL funds.