LONDON — Private equity firm BC Partners has reached an agreement to acquire Pasticceria Bindi S.p.A., an Italian producer of frozen bakery products. Financial terms of the transaction were not disclosed.
Founded in Milan in 1946, Pasticceria Bindi creates pastries, cakes, pizza, focaccia, baked snacks and ice cream for food service customers in more than 40 countries in North America, Europe and Asia. The company has production sites at its headquarters in Milan and in Kearny, N.J.
“Pasticceria Bindi is a long-established leader in the attractive Italian frozen patisserie market with an incredibly valuable brand, unique in its market, and loyal client base,” said Stefano Ferraresi, partner, BC Partners. “The company has also developed a strong international business, reflecting its high-quality offering and strong distribution network, especially in the U.S.”
Pasticceria Bindi reached more than $155 million (€140 million) in revenue in 2019, with international markets representing 40% of revenues, according to BC Partners.
The private equity firm said it will support the bakery’s growth by expanding product lines, increasing international sales and seeking out new acquisitions in Italy and abroad.
“We believe there is growth potential coming from strengthening the relationship with distributors in Italy and abroad and from the international development of the brand,” Mr. Ferraresi said. “The Bindi family has built a business with a long and successful track record over the last 80 years, and we look forward to protecting this legacy and investing in the company’s exciting future.”