August 3, 2017 | Deals

GCA Altium advises Argos Soditic on the sale of Sapore di Mare to Edmond de Rothschild Investment Partners

GCA Altium advised Argos Soditic on the sale of D.I.MAR. S.r.l., a frozen fish and seafood retail chain active under the trademark “Sapore di Mare”, to Edmond de Rothschild Investment Partners. D.I.MAR.’s CEO Paolo Gattafoni and the Mucci family will retain a minority stake in the Company. This transaction marks GCA Altium's 12th transaction in the Consumer & Retail sector in the last 12 months.

D.I.MAR., headquartered in Corridonia, Italy, operates more than 100 stores selling frozen fish and seafood across Italy and recorded over € 80m revenues in 2016. A majority stake in D.I.MAR. was sold to Argos Soditic in May 2011 with the objective of strengthening the management team and expanding the direct stores network. The number of stores increased from three in 2011 to 59 in 2016, with revenues growing from € 2m to € 49m over the same period.

With its innovative store format inspired by a traditional fishmonger’s shop experience, Sapore di Mare has been providing the best fish from all over the world for its customers for 25 years, with strict quality control procedures which have led to 2008 ISO 9001 and ISO 22005 certifications. Sapore di Mare places a strong focus on sustainability and fully controls freezing and glazing processes which ensure the preservation of the organoleptic and nutritional properties of its products. Furthermore, its internal R&D department has developed over 100 detailed ready-to-cook recipes, to ensure that every customer feels like a real chef while simplifying their cooking experience.

Edmond de Rothschild Investment Partners will support D.I.MAR.’s management team in its expansion strategy, strengthening the current commercial coverage in Italy through the opening of a significant number of new stores.

Paolo Gattafoni, CEO at D.I.MAR., stated: “I am happy to welcome Edmond de Rothschild Investment Partners as investors in Sapore di Mare, Italy’s leading specialized frozen seafood retail chain. Our future strategy will not be focused only on the growth of our store network, but also on consolidation of our leadership and guaranteeing our customers top-quality, safe and certified products.”

Alessio Manigrasso, Managing Director at Argos Soditic Italy, added: “In a few more than five years we have developed a deep transformation plan, from franchise to direct stores with a unique format. Investments have been substantial but the real challenge was to build a solid organizational structure which will be the basis for a successful future.”

Alessandro Soprano, Managing Director at GCA Altium, said: “We are convinced that Edmond de Rothschild Investment Partners is the ideal partner to support Sapore di Mare in the next phase of growth thanks to its strong expertise in the retail industry. It has been an absolute pleasure to work with Argos Soditic and the genuinely best in class management team of Sapore di Mare and we wish the Company and its new investor Edmond de Rothschild Investment Partners well for the future.”

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