Eataly Near Deal to Sell Majority Stake
Private-equity firm Investindustrial aims to help Italian-marketplace chain expand globally
A European private-equity firm is close to a deal to buy a controlling stake in Eataly SpA, with the aim of helping the Italian-marketplace chain continue to expand globally, according to people familiar with the matter.
Investindustrial is in talks to take a 52% stake in Eataly in a deal that involves an investment of around €200 million, equivalent to $199 million, as well as the purchase of additional shares, the people said. A deal could come together Wednesday, assuming talks don’t fall apart.
Eataly plans to use the investment to retire debt and open more flagship stores as well as develop new formats, the people said.
Eataly was founded in 2003 by Oscar Farinetti. Its marketplaces feature a mix of restaurants and retail, all with a focus on Italian food and drink. It currently has roughly 40 locations in countries including the U.S., the United Arab Emirates, Japan and Brazil, with more planned.
The Farinetti family, the Baffigo/Miroglio family—another family long involved with Eataly—and Italy-based Tamburi Investment Partners will own the remaining 48% of the company, the people said.
While not a household name in the U.S., Investindustrial has a decadeslong track record of helping brands with European, and especially Italian, roots expand. It was founded by Andrea Bonomi. The firm, which has roughly €11 billion under management, took fashion label Ermenegildo Zegna Group public through a special-purpose acquisition company in 2021 and invested in spa-maker Jacuzzi Brands in 2019.
Last month, Investindustrial unveiled two U.S. food-related deals: It agreed to buy part of TreeHouse Foods Inc.’s meal-preparation business as well as ingredient company Parker Food Group.