IDAK Holding ag, the parent company of the Swiss-based KADI AG, a producer of potato and snack specialties and refrigerated and frozen products, controlled by private equity firms Invision and Nord Holding, has acquired the majority of Margherita srl, an Italia company based in Fregona (Treviso ) which produces frozen pizzas and snacks (see here the Nord Holding’s press release and here the Invision’s one). IDAK Holding is owned by the management of KADI. The goal of IDAK is to develop in the long term a group specialized in the production of premium food products.
In the transaction, KADI was joined by Grant Thornton and financial advisor Marco Vismara. Margherita was instead supported by the advisor Value Solutions.
Margherita srl, a company founded in 2001 by Fabrizio Taddei, produces frozen pizzas with craftsmanship under the Re Pomodoro brand, distributed in Italy and abroad. In 2014, Mirko Baldi and Werner Furrer, founders of the Swiss company Fresh & Frozen Food AG that deals with the distribution of food products, became partners of Margherita srl and founded Margherita (Schweiz) AG, with the aim of expanding the sales network on the international market. The company now employs 250 people and has three production plants in the Venetian Prealps. In 2019 it generated revenues of 42.1 million euro, compared to an ebitda of 12.3 million and net liquidity of 3.9 million (see here the analysis by Leanus, once registered for free). The Taddei family will continue to retain ownership of the rest of the capital, while the guide will be passed by Fabrizio Taddei to the ceo Andrea Ghia.
“With IDAK we have managed to bring on board an experienced partner who has the right levels of industrial and production know-how to support us in our next stages of development and growth”, commented Fabrizio Taddei. Margherita already has an international presence and is facing an ever-increasing demand. “This growth potential combined with our know-how in the frozen food sector attracted us immediately,” said IDAK and KADI ceo Christof Lehmann.
Founded in 1951 as a flake potato processing company, KADI is based in Langenthal, has 180 employees and generates a turnover of over 80 million Swiss francs. The company produces around 270 references, used daily by over 12 thousand restaurants in Switzerland. KADI hosted the “Goldener Koch” for 20 years, the most prestigious culinary competition in Switzerland. Nord Holding and Invision acquired control of KADI in January 2019 (see the press release here).
Nord Holding is one of Germany’s longest-running private equity operators. With 50 years of history, it is now headquartered in Hannover and Zug, Switzerland and counts over 2 billion euros of assets under management. It invests in the small and mid-cap segment on the European market and conducts investments in the primary and secondary markets and co-investments. The division specializing in primary direct investments currently has over 15 portfolio companies in the DACH region (Germany, Austria and Switzerland). Founded in 1997, Invision is headquartered in Zug in Switzerland and has invested over 750 million euros in over 50 companies to date.
