Transaction Details

August 3, 2018
Milan

Sector

Consumer, Retail, E-commerce and Leisure

Deal Type

M&A

Deal Value

N/D

Deal Team

Alessandro Soprano, Raffi Salibian, Jacopo Santin

Sale of Goccia di Carnia and Pejo

GCA Altium has advised AVM Private Equity on the sale of the majority stake of Sorgenti Italiane, owner of Goccia di Carnia and Pejo, two leading Italian mineral water brands.

Goccia di Carnia and Pejo are the two main bottled water brands in Northeastern Italy, with a 40-year geographic heritage and a leading market share in their respective regions.

AVM Private Equity, through its holding company Sorgenti Italiane, initially acquired Goccia di Carnia in 2012 from a group of local entrepreneurs and then consolidated Pejo, formerly owned by Nestlé - San Pellegrino.

Goccia di Carnia and Pejo experienced an aggregated revenue CAGR of ca. 20% in the last three years, reaching a turnover of € 33m. The acquisition of the majority of Sorgenti Italiane has been completed by a group of investors organised into a club-deal headed by AVM Private Equity, through its new fund Talent.

This transaction marks an important milestone in the Group's recent growth path and further supports it in achieving a leading position in the Italian mineral water industry.

The transaction has been completed with a reference Enterprise Value (100%) of € 59m.

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