Italy-based roasted coffee company Massimo Zanetti Beverage Group (MZBG) has partnered with private equity fund QuattroR, which will acquire a 50% stake in the company.
The private equity fund will inject €90 million into MZBG through a capital increase and will gain the majority of the voting rights, Italian daily Corriere del Veneto reported.
QuattroR will assist MZBG in negotiating with creditors to purchase outstanding debt, primarily held by Unicredit, BNL, and Intesa Sanpaolo.
The fund will appoint Pierluigi Tosato as chief executive, while Massimo Zanetti will remain president.
The plan is to eventually list MZBG on a stock exchange again, potentially in New York or Singapore, after QuattroR exits its investment in three to four years, the report said.
This move is intended to address the company's current debt situation, estimated at €350 million, due to the impact of the COVID-19 pandemic and rising coffee prices.
Access To Capital And Expertise
Partnering with QuattroR will provide MZBG with access to capital and expertise to support future growth plans.
MZBG expects to close 2023 with revenue exceeding the previous year's €1.5 billion and an EBITDA of €48 million.
The company is actively expanding its global reach, with recent openings in China and Jordan, and strategic partnerships in Taiwan.
The Zanetti family will remain involved in the company, with Massimo Zanetti continuing as president and the possibility of future generations taking leadership roles.
MZBG owns coffee brands such as Segafredo and MJB and operates 18 facilities across Europe, Asia, and the Americas.
It operates a global network of about 400 coffee shops in 50 countries and also offers professional coffee machines (La San Marco) and complementary products such as tea, cocoa, chocolate, and spices.
