Global expansion is in the cards for this Italian food chain, as it was recently announced that private equity firm Investindustrial will buy a majority stake in Eataly, accelerating its growth in several key markets.
Eataly has 44 outlets in 15 different countries that provide high-quality Italian food and host some restaurants. Last year, the company opened a new flagship store in London, and it currently has other launches in the works. This includes smaller locations in the United States, where Eataly already has eight flagship stores in locations such as New York and Los Angeles, California.
Following this transaction, Investindustrial, advised by UniCredit, will get 52 percent of Eataly. According to Reuters, this deal creates the potential for a capital increase worth 200 million euros ($198 million USD) as well as a further investment by Investindustrial to purchase shares held by the current investors.
Investindustrial’s capital injection will allow Eataly to open more stores and develop new formats, while also enabling the acquisition of all the minority shares in Eataly's existing U.S. business, the company said in a statement.
Eataly Chief Executive Officer Nicola Farinetti will become Chairman for the business, and a new CEO will be announced soon.
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