VILLORBA (TV, Italy), LISBON (Portugal) – Following the press release dated 12th July 2016, today, Massimo Zanetti Beverage Group S.p.A. (“MZBG” or the “Company”) announced, through its subsidiary Segafredo Zanetti Portugal S.A., the completion of the acquisition of 100% share capital holding in Nutricafés S.A. from two private equities funds (MCH Iberian Capital Fund II, and Portuguese Fund Explorer I).
Nutricafés S.A. is one of the main players in the Portuguese coffee market with two historical and prestigious brands: “Nicola Cafés” and “Chave D’Ouro”.
The deal is for a total consideration of € 74.5 million in terms of enterprise value and will be financed through new credit lines provided to the company by the banking system with an average cost that reflects current market condition.
With this acquisition MZBG will further reinforce its position in Portugal, where the Group is already operating through its subsidiary Segafredo Zanetti Portugal S.A. with the brand Segafredo Zanetti, reaching a total market share of 14%.
Nutricafés S.A. acquisition perfectly fit the Group’s strategy which aims to further develop in the Food Service channel, as well as in the Single Serve’s offer.
In fiscal year 2015 Nutricafés S.A. revenues reached € 34,1 million, Gross Profit reached € 19.5 million, with a 57.2% in gross margin.
EBITDA was € 8.7 million with a relative EBITDA margin of 25.5%. Net Financial Position reported a negative value of € 36.0 million.
