Clessidra Private Equity has acquired a majority stake in Laurieri, a renowned Italian baked goods manufacturer, for an undisclosed amount. This move allows Clessidra to expand its influence within the food and beverage industry trends, particularly in the realm of specialty products like cantucci biscuits and taralli crackers.
The private-equity branch of Clessidra Group has obtained a 70% share of this esteemed producer from the Laurieri family. Importantly, the family will retain a 30% stake and is committed to reinvesting in the company, ensuring collaborative growth.
In a statement, Clessidra emphasized that this investment aligns seamlessly with the mission of the Clessidra Capital Partners’ Green Harvest fund. Launched in July, the fund is dedicated to supporting Italian agri-food SMEs, aiming to promote sustainable and competitive business models that resonate with current food and drink consumer trends.
Founded in 1976, Laurieri boasts annual revenues of approximately €20 million ($23.2 million) and an EBITDA exceeding €5 million. Notably, over 90% of its revenue is generated from international markets, reflecting the company’s strong global presence.
Located in Matera, southern Italy, Laurieri operates four production lines with a remarkable daily capacity of around 45 tons. Andrea Otaviano, CEO of Clessidra Private Equity, expressed pride in launching the Green Harvest fund with this investment, marking a significant step in Clessidra’s strategy to enhance Italian excellence in the agri-food sector.
Otaviano stated, “Laurieri perfectly embodies the values of quality, innovation, and sustainability that define our investment vision.” This partnership aims to bolster Laurieri’s growth trajectory while preserving its foundational values.
Emanuele Cuccio, managing director of Clessidra Private Equity, noted the intent to accelerate the biscuit producer’s growth through strategies that include expanding production capacity, enhancing product innovation, and broadening international reach. The firm remains committed to adhering to the highest ESG principles throughout the supply chain.
In addition to its popular sweet and savory snacks, Laurieri also produces gluten-free crackers, breadsticks, and baby food under the Little Toothsome brand. The company also engages in private label production and travel catering, diversifying its offerings within the food and drink business sector.
Franco Laurieri, the founder, remarked, “Clessidra’s entry represents an important recognition for the work we have done over the years.” He reaffirmed his commitment to reinvest alongside his son, Gianni Laurieri, reflecting a shared vision for growth while maintaining deep local roots.
Established in 2003, Clessidra Private Equity operates under Clessidra Holding and has executed over 30 investments totaling €2 billion since inception. In a previous transaction, the firm acquired Italian better-for-you cereals manufacturer Molino Nicoli from the Nicoli family in July of last year.
While financial details of that transaction remain undisclosed, the Nicoli family also retained a 30% stake following the acquisition.
For those interested in the evolving landscape of the food and beverage industry, staying updated on these trends is crucial. The developments at Laurieri represent a significant shift reflective of the broader dynamics in the food and drink sector.
