IDeA Agro, the first private equity fund in Italy focused on agribusiness and farmland, managed by DeA Capital Alternative Funds SGR, is supporting entrepreneurs Paola and Giacomo Rizzo by acquiring the majority stake in S.P.O. Zentrum. It is a Sicily-based platform in Italy for the production, packaging, and distribution of fresh fruits and vegetables, primarily citrus fruits, with a high standing portfolio of loyal retail customers.
The deal entails IDeA Agro's direct investment into Agrimediterranea, the family's agricultural holding company which controls the farm operations and the S.P.O. Zentrum distribution platform ('S.P.O Zentrum Group'), with the aim of boosting its development in the context of an innovative sustainable agriculture concept.
To date, the Group has achieved consolidated sales of over €20 million, with an average annual growth rate of about 10% in the last 5 years. It stands out for its vertically integrated business model which covers the entire food chain from the production of raw materials to the processing and marketing of the finished product.
The Group manages 450 hectares in Sicily, of which approximately 180 hectares directly, with an annual production capacity of over 25,000 tonnes. The products are processed through a logistics platform made up of pre-calibration warehouses in Sicily and processing and distribution centres in central Italy capable of ensuring same-day delivery throughout the country.
With the resources and expertise contributed, the IDeA Agro fund aims not only to further professionalise and enhance the local agricultural supply chain, but also to position the Group as the leading integrated player in Sicily.
Pier Luigi Rossi, Managing Director of the IDeA Agro Fund, commented: "I am delighted and enthusiastic to announce this new investment, which sees us working with the Rizzo family to develop the Sicilian citrus fruit chain. With this latest operation, the IdeA Agro Fund completes its investment cycle with ten active deals, seven of which in agricultural greenfield space for over 1,200 hectares, confirming its position as the leading private equity fund specialized in agribusiness in Italy with an investment strategy focused on permanent crops, the most complex and most profitable, and on the construction of short and vertically integrated agricultural and agro-industrial supply chains. IDeA Agro's agricultural investment portfolio is to date unique in the European landscape both in terms of crop and geographical diversification within Italy."
Giacomo Rizzo, CEO of SPO Zentrum Group, commented: "We are proud to collaborate with IDeA Agro. I see this as a very promising partnership that will enable us to achieve leadership in the sector, with investments aimed at vastly expanding our production farms to create Italy's largest integrated production and marketing platform. We have always believed in an 'AgriCultural' system that encompasses not just the mere cultivation of the soil, but above all a service model focused on fully maximising the value of our product."
For more information:
Marco Scopigno
DeA Capital S.p.A.
Tel: +39 02 62499533
[email protected]
www.deacapitalaf.com