After an Italian investment company took a 52 percent stake in the business for about $300 million, gourmet Italian restaurant and grocery concept Eataly is set for major international expansion.
Investindustrial said its investment will allow Eataly to retire debt and maximise financial flexibility to fund Eataly’s global expansion plans. The family of the founder, Oscar Farinetti, and other shareholders will maintain the minority 48 percent stake.
Founded in 2003, Eataly describes itself as “the largest Italian retail and dining experience in the world, transforming the way consumers enjoy Italian food, beverage and, culture through markets, counters, cafes, restaurants and educational offerings”.
It has 44 stores in 15 countries, including Italy, the US, Canada, the UAE, Japan, South Korea, Germany, Great Britain, France, Sweden, and Brazil and is planning more stores in some of the world’s major cities. This year it anticipates turning over around $450 million.
Investindustrial has recently invested more than $3.7 billion in the food sector, supporting the global development of historic and iconic Italian companies focused on private-label food products, ingredients, food-tech companies, and hospitality ventures, through the Dispensa Emilia restaurant chain.
Andrea C Bonomi, chairman of Investindustrial’s advisory board, described Eataly as “an example of Italian excellence in the world”.
