Vitale advised White Bridge Investments in the disposal of Nutkao Group to Teralys, an investment vehicle of the Maroccan sovereign wealth fund Al Mada.

Founded in 1982 and headquartered in Piedmont (North of Italy), Nutkao Group is a leading player in the production of hazelnut, pistachio and chocolate retail spreads, creams, pistachio ingredients, and chocolate.
The Group, result of a buy and build strategy started by White Bridge Investments, in 2021 has acquired the Belgian player Boerinneke (now Nutkao Belgium), concentrated in specialty spreads, and the Antichi Sapori dell’Etna, Italian market leader in the ever-growing pistachio market
The Group leverages a state-of-the-art global industrial footprint, operating through 5 production plants across Italy, Belgium, North Carolina and Ghana, serving approximately 700 customers in over 80 countries through private label, co-packing, and its own brands.

In 2024, net sales are expected to reach €370 million, with an EBITDA of around €50 million.

Vitale acted as financial advisors to the seller, offering support in the structuring of the transaction, in the negotiation phases and in the coordination of due diligence activities.
 

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