Dea Capital to invest €13m in Snaidero Group

07.06.2018 − 

One of the funds administered by Dea Capital Alternative Funds has agreed the takeover of a majority shareholding in Italian Snaidero Rino with creditors as well as the Snaidero family. An agreement to this effect was signed by the superordinate company De Agostini on 30 April, according to Dea Capital. The transaction is still to be reviewed by the responsible court in Udine. A decision is expected by the end of June. The federal cartel office approved the acquisition of 85% of voting rights and control of Snaidero by Dea Capital on 24 May. The plans were registered with the federal cartel office for review on 4 May.

Dea Capital intends to invest €13m in order to consolidate the activities in the Italian market, and to strengthen export markets. The financial resources are also to be used to convert existing debts. Massimo Manelli has been deployed as manager for the repositioning of the Snaidero Group by Dea Capital, and is to be appointed officially as new CEO once the transaction has been completed. Edi Snaidero is to represent the shareholders of the kitchen manufacturer in future as chair of the supervisory board.

Tags of this news:

previous − Increasing Chinese investments in European industry

Schüller wants to expand site in Herrieden  − next