AVM Private Equity is preparing to sell its mineral water business  Sorgenti Italiane, which includes Goccia di Carnia (Friuli Venezia Giulia), Acqua Pejo (Trentino) and Altavalle (Liguria), Mergermarket wrote adding that Avm mandated  GCA Altium for the arranging the sale process.
BeBeez has been told the process is actually under way and that preliminary offers were due on 12 May, and five bidders are said to be involved in the process, including one strategic player and four mid-cap funds. A deadline for submitting binding offers has yet to be communicated but a deal is likely to close before the summer break.
Sorgenti Italiane  had 2016 revenues of around 30 million euros a 6 million euros ebitda, while the vendor is expecting offers in excess of 45millions,
Goccia di Carnia was sold to Avm in 2012 from Giovanni Santanbrogio, an Italian entrepreneur. In 2011 it generated revenues of 20.2 million euros and an ebitda of 4.1 millions.  The transaction was financed by Banca Mediocredito del Friuli Venezia Giulia. IdroPejo srl, owning the Acqua Pejo brand, was instead acquired in 2014 from San Pellegrino, owned by Nestlé.
