L2 Value and Ppi & Partner have advised the Magnani Family on the deal, while Baker Tilly Legal acted for Herbex Group.
Herbex, Europe’s leading producer and marketer of fresh herbs, has completed the acquisition of a majority stake in Magnani from the founding family, who will continue to manage the business.
Magnani has a leading position in the Italian fresh herbs market with sales of more than 9 million euros, generated mainly through own brand and the supermarket channel. In recent years, Magnani has recorded sustained double-digit annual growth with a value proposition based on quality products with a high level of customer service. The company sources through a strong network of Italian producers of fresh aromatic herbs and handles and packages the product in a 2,000 sqm2 logistical packaging facility in Northern Italy (Reggio Emilia) where a team of 80 people work.
With this acquisition, which has been financed by Herbex‘s shareholders, Nazca Capital and Jame Visquert, founder of Herbex, the Spanish group now generates annual revenues of more than 60 million euros and consolidates its presence in the Italian market. For its part, the incorporation of Magnani into the Herbex group will allow it to continue with its project to grow and strengthen its organisation, diversifying its production and offering an even better service to customers with a broader product portfolio, better availability and improved response time in regions such as Eastern Europe.
This is Herbex‘s first acquisition as part of an ambitious growth plan in the European market with which it expects to exceed revenues of 80 million euros in three years, based both on acquisitions of other European operators with solid positions in their markets and margins, and on organic development. This second area of growth will be based on improvements in customer service and product quality following a strong investment in the professionalisation of the organisation, systems and production facilities that is being led by its management team, which has been strongly reinforced in recent months.
L2 Value advised the Magnani Family with partner Leopoldo Giannini (Picture) on legal aspects, alongside Ppi & Partner with partner Cristian Poldi Allai for tax matters.
Herbex was advised on the transaction by Baker Tilly Legal, with a team led by Letizia Guidi assisted by Carmen Dinnella, Giovanni Querzani and Fabiana Caroli.
Involved fees earner: Fabiana Caroli – Baker Tilly; Carmen Dinnella – Baker Tilly; Letizia Guidi – Baker Tilly; Giovanni Querzani – Baker Tilly; Leopoldo Giannini – L2Value; Cristian Poldi Allai – PPI & Partners;