Investindustrial private equity firm is in exclusive talks for buying a 60% stake in group Artsana, an Italian leading group in mums and babies products sector, from founding family Catelli, MF Milano Finanza writes today. Led by the managing principal Andrea Bonomi, Investindustrial’s offer won the ones put forward by competitors Bain Capital and Pai Partners in a beauty contest managed by advisor Lazard.
Founded in Como in 1946, today Artsana Group with wellknown brands such as Chicco, Pic, Lycia, Boppy, Control and Medical Center, operates in the child care and self care products sectors, counts almost 6.500 employees and operates all over the world from China to Brasil, from Mexico to Turkey, Russia and the Usa.
Investindustrial is valuating the whole group about 1.3 billion euros or 10-11x the FY 2015 ebitda which is expected to be more than 120 million euros, a figure which is quite more than the 96.25 millions reached in 2014. Artsana had 1.22 billion euros in revenues in 2014 and closed with 14.37 millions in net profits with gross banking debts of 83.5 millions.
The Catelli family is said to mantain a 40% stake in the group with actual ceo Claudio De Conto who is seen to keep on managing the company thanks to very good performances and thanks to the fact that he and Mr. Bonomi have been knowning from 2011 when Mr.Bonomi called De Conto in Banca Popolare di Milano’s management board.
Artsana is also a shareholder in a joint venture with Giochi Preziosi group, the leading Italian producer and distributor of toys. The jv owns retail shops selling toys and children products with brands as Toy Center, Bimbo Store and Prénatal (see here a previous post by BeBeez). On this issue it will be understood if Investindutrial would be itnersted to mantain Artsana’s stake in the jv or not.