ildefonso polo felipe martinezcaballero

Garrigues advises DeA Capital Alternative Funds on the acquisition of a significant stake in Pizzerias Carlos

Garrigues has advised the investment Fund Taste of Italy 2, managed by DeA Capital Alternative Funds SGR S.p.A. on the acquisition of a significant stake in the capital of the Spanish restaurant chain Pizzerias di Carlo S.L. (“Pizzerias Carlos”).

The deal is the second transaction that this specialized DeA Capital fund has carried out in Spain. The first was the acquisition of 60% of the food company Alimentos y Nutrición Familiar (Alnut) from the food multinational Foodiverse Hold, which kept the remaining 40%, for an undisclosed amount.

Pizzerías Carlos has been active in the Spanish market since 2009, has experienced a stable growth over the years, even during the pandemic period, thanks to its outstanding positioning within the delivery market. In 2021, the company had a turnover of 40 million euros, which represents an increase of 26.5% over the previous year, and the success of a team of more than 1,800 professionals.

The partners of Pizzerias Carlos have been advised by Houlihan Lokey and Hogan Lovells, while DeA Capital Alternative Funds has been advised by V4 Financial Partners, Garrigues, PwC, Marsh and ERM.

Garrigues advisory team was formed by partner Ildefonso Polo (pictured left) and counsel Felipe Martínez-Caballero (pictured right).

Taste of Italy 2 is a private equity fund reserved for institutional investors with €330 million of subscribed capital, managed by DeA Capital Alternative Funds SGR S.p.A. The fund invests in leading companies in Italy and the Iberian Peninsula in the food and beverage sector, and in the supply chain that serves it.

DeA Capital Alternative Funds SGR S.p.A., founded in December 2006, it is 100% controlled by DeA Capital S.p.A., a company of the De Agostini Group. DeA Capital Alternative Funds SGR is the leading independent Italian asset manager in the alternative asset sector, with € 5.5 billion of assets under management, invested in particular in global funds of funds, in sectoral direct funds investing in mid-caps, in DIP (Debtor-in-Possession) Financing, as well as in NPL funds.