Fusioni & Acquisizioni

📈 Marriott International ended its partnership with Sonder in 2025 due to Sonder's default. The initial agreement, announced in 2024, included royalties from Sonder's gross revenues. Sonder, founded in 2014, manages about 9,000 apartment-style units in over 40 countries. Facing financial difficulties, Sonder reported a net loss of $101 million and a negative equity exceeding $715 million in the first half of 2025. Sonder properties are no longer available through Marriott Bonvoy.

✈️ Air Astana, Kazakhstan's national airline, has ordered 15 Boeing 787-9 Dreamliners, marking its largest order yet. This includes five firm orders, five options, and five purchase rights, adding to three already set for delivery in 2026/27, totaling 18 aircraft commitments. Deliveries are scheduled for 2032-2035. The fleet, valued at $7 billion, aims to enhance long-haul services from Central Asia/Caucasus to Asia, Europe, and beyond, as per CEO Peter Foster.

📅 Rixos Hotels plans a $300 million investment for three luxury hotels in Morocco with Groupe Alliances by 2029. The locations include two resorts in Marrakech and one in Larache, totaling 950 rooms and 110 villas. Construction starts in 2026, featuring a Marrakech resort on 26 hectares with 400 rooms and 60 villas, and a wellness-focused Aliée by Rixos with 150 rooms and 50 villas. The Larache Rixos Lixus Resort will offer 400 rooms.

💻 RateGain Travel Technologies completed the acquisition of Sojern, an AI-driven digital marketing platform for the hospitality sector. This merger, announced by Bhanu Chopra, RateGain's founder, enhances marketing, distribution, and revenue optimization capabilities, offering a comprehensive AI platform. Mark Rabe, CEO of Sojern, highlighted the potential for market expansion and product enhancement, aiming for measurable growth in the global travel industry.

🍽 MRG Milano Restaurant Group acquisisce il ristorante Nabucco, storica istituzione di Brera, Milano, il 1° novembre 2025. Nabucco, aperto nel 1976, ha generato ricavi di 2 milioni di euro nel 2024. MRG gestisce ora 13 ristoranti con un fatturato complessivo di oltre 24 milioni di euro e un team di 300 persone. La nuova gestione, guidata dallo chef Enzo Nappi, riaprirà il 1° dicembre, rilanciando la cucina classica italiana. Brera è in crescita del 20% nel 2025.

☕ RoastMaster Capital and Harcos Capital Partners completed the acquisition of Caffè Ottolina S.p.A., founded in 1948, as part of a coffee sector consolidation project. Banca Finint financed the €13 million deal. Aiming for a €70 million turnover in four years, Caffè Ottolina and Horeca Servizi join RMC, retaining operational control. This collaboration seeks to create a leading Italian coffee group with international competitiveness.

🍷 Gruppo Caffo 1915 acquired Francesco Cinzano & C.ia srl from Campari Group, marking a pivotal moment for the brand founded in 1757. This strategic acquisition, announced in June 2025, expands Caffo's reach from over 70 to 108 markets. The deal signifies a new phase under Giuseppe and Sebastiano Caffo's leadership. They aim to relaunch Cinzano in Italy by 2026 and harness its potential in the global mixology scene.

🚢 Msc is expanding its business by acquiring the Genoese sportswear company, Slam, to boost its market presence. Expect Slam's brand onboard Msc ships soon. Msc already controls Italo and Il Secolo XIX. Despite a failed final stage negotiation with Ita Airways, Msc continues to explore opportunities, carefully evaluating potential acquisitions from its Geneva headquarters. Gianluigi Aponte’s strategic patience in the airline sector indicates a focus on long-term investments aligned with Msc’s maritime heritage.

💰 In 2024, Telme SpA, a leading company in medium-sized machinery production, reported over €11 million in revenue with 40 employees, operating in 80+ countries. F4 Holding, backed by the Faelli family, acquired 100% of Telme to strengthen its presence in the gelato and pastry sector. Founded in 1987 in Codogno, Telme aims to innovate and expand its international reach. Pirola Corporate Finance and Equity Factory facilitated the transaction.

📈 Granarolo SpA acquisisce West Horsley Dairy Limited, fondata da Philip e Catherine Colton nel 1992, per rafforzare il mercato britannico, particolarmente a Londra. West Horsley serve 500 clienti con 73 dipendenti e 43 veicoli refrigerati, generando 16 milioni di sterline nel 2024. L'acquisizione segue la strategia di Granarolo di espandersi nel Regno Unito, detenendo una quota del 12,8% del dairy italiano esportato. Granarolo punta a integrare prodotti italiani nel portafoglio di West Horsley.