Fusioni & Acquisizioni

📈 Platinum Equity acquires majority stake in F.lli Polli S.p.A., an Italian leader in pasta condiments and vegetable preserves. Financial terms not disclosed. The Polli family retains a minority share. F.lli Polli, established in 1872, serves clients in over 50 countries, is one of Europe's largest pesto producers, operates four state-of-the-art facilities, processes over 130 different raw materials, and produces approximately 29,000 tons of vegetables and over 190 million packaged products annually. The deal aims to enhance F.lli Polli's global market presence and growth potential.

💰 CEME SpA, global leader in vibration pumps and solenoid valves, headquartered in Trivolzio (PV) and controlled by Investindustrial, acquires a majority stake in DTI, an Italian company specializing in advanced electronic solutions for coffee machines, beverage, pizza&bakery, and professional food service sectors. DTI, founded in 2009 in Tavagnacco (UD), boasts two industrial plants, one in Tavagnacco and a new 5,000 sqm facility in Hungary opened in 2024, employing around 90 people. CEME's acquisition will enable comprehensive fluid management product offerings, strengthening its position as the world leader in the home and professional coffee machine market. CEME Group, led by President & CEO Roberto Zecchi since 2015, targets global leadership and has acquired ODE and ACL in 2021, PROCON in 2022, and Micropump in 2023. CEME has eight production sites with 1,600 employees, distributing products in 70 countries, achieving €325 million in revenue in 2023.

📖 During the 70th celebration of the Michelin Guide Italy, held at Nuvola Lavazza in Turin, the "Taste Tourism" study revealed a jump in revenue generated by Italian starred restaurants from €280 million to €438 million, excluding on-site dining expenses. The 70th edition will be unveiled on November 5 in Modena. In 2023, starred restaurants welcomed 2.4 million customers, with 40.7% from abroad, contributing to the €438 million revenue, expected to rise to nearly €500 million (€498 million) in 2024. Lombardy, Campania, and Piedmont are the top benefiting regions, with Naples, Rome, and Milan leading at the provincial level. Michelin's historical ties in Italy date back to 1906, with a direct economic impact of €343 million in 2023 through over 3000 suppliers.

🏡 Four Italian hotels featured in The World's 50 Best Hotels: Passalacqua on Lake Como ranked second and won Best Boutique Hotel 2024. Other Italian hotels listed include Four Seasons Florence, Borgo Santandrea, and Castello di Reschio. Capella Bangkok topped the ranking, with Rosewood Hong Kong and Cheval Blanc Paris following. Italy's luxury hospitality highlighted.

📍 Lufthansa is nearing the completion of acquiring 41% of Ita Airways, working closely with the Italian Ministry of Treasury. By November 3, 2024, following EU Antitrust approval, the companies must identify competitors for North American routes from Rome to Washington, San Francisco, and Toronto. 15 daily slot pairs at Linate Airport and short-haul routes will open to competition, overseen by Nocon. A competitive process will facilitate North American route access, either by direct flights or through airlines offering connecting flights via European hubs. The final agreement, triggering a €325 million capital increase by Lufthansa for the 41% stake, is expected by December 2024, with options for additional share transfers from 2025.

📍 Following the collapse of the German tourism giant FTI, Tui acquired most of the company's activities in the Canary Islands, significantly boosting passenger numbers and improving performance. Despite also gaining ground in Turkey after FTI's failure, Tui faces less optimistic prospects there due to the country's high inflation.

🍷 Italian wine exports in the first half of 2024 reached €3.9 billion, a 3.2% increase in value, and exported 10.6 million hectoliters, a 2.4% increase in volume year-over-year. Sparkling wines led with an 11% rise in volume and 7% in revenue. The USA and the UK slightly grew by 2% and 2.3% respectively, while Germany dropped by 1.2%. Veneto's regional value increased by 5.7%, yielding €1.4 billion, and Tuscany surpassed Piedmont with a 3.5% growth. The sector saw a slowdown compared to the first four months' 6-7% growth.

📊 In the first half of 2024, Newlat Food, led by Angelo Mastrolia, reported revenues of €370.1 million, down 10.4% from €413.3 million in the same period of 2023. The decrease is attributed to deflationary effects. However, EBITDA increased to €39.3 million from €38.5 million, boosting the margin from 9.3% to 10.6%. Net profit stood at €10 million, an 11% rise excluding the €1.7 million business combination gain in 2023. Significant growth occurred in the Dairy Products segment, while other segments experienced revenue contraction. The company completed the acquisition of Princes Limited on July 30, 2024, marking a phase of expansion.

✈ Air Senegal will suspend seven international routes starting next week, including the flight from Dakar to Milan. The six-year-old carrier is facing a severe financial crisis. Routes to be suspended are New York, Milan, Barcelona, Libreville, Douala, Marseille, and Lyon. The suspension takes effect on September 20, with refund details provided by Aviareps, the airline's representative in Italy.

✈️ EasyJet, the second-largest airline in Italy, carried over 20 million passengers last year on 226 routes from 21 Italian airports. The winter 2024 season will see a 7.5% increase in offerings, with an eighth aircraft in Naples and 13 new routes from Milan Malpensa and Naples, including destinations like Tromsø, Cairo, Oslo, Rabat, Alicante, and Prague. EasyJet plans to reorganize operations in Italy, reallocating aircraft from Venice to ensure long-term success, but will maintain connections to major European destinations from Venice. Lorenzo Lagorio, country manager of easyJet Italy, highlighted investment growth in Lombardy, Campania, and other Italian destinations. If selected as a remedy taker in the Ita Airways and Lufthansa agreement, easyJet aims to open bases at Milan Linate and Rome Fiumicino by summer 2025.