Supported Kadi AG in international transformation and family succession of pizza manufacturer Margherita Srl
Langenthal, April 16, 2020 - IDAK HOLDING AG, the parent company of the chilled and frozen food producer KADI AG, has acquired a majority stake in the Italian-based premium pizza manufacturer Margherita Srl. IDAK’s objective in the long term is to develop a conglomerate made up of specialist companies and manufacturers within the premium food delight sector.
Margherita Srl is a premium pizza manufacturer based in Fregona in northeastern Italy. It makes chilled and frozen pizzas and pizza snacks, which are sold domestically in Italy and abroad. The company employs 250 staff and generates revenue in excess of € 40 million. The company is majority-owned by the Taddei family, who wish to ensure their succession planning is in place and safeguard the future of their company in the medium to long term with this sale.
Margherita Srl will be transferred to IDAK HOLDING AG, which holds a majority stake in Margherita Srl. This holding structure has been in place for twelve years, and is also the parent company of KADI. It is owned by a group of investors, namely the Zug-based Invision and Hanover-based NORD Holding, as well as the KADI management team members with a joint stake. IDAK’s objective in the long term is to develop a conglomerate made up of specialist companies and manufacturers within the premium food delight sector.
“With IDAK, we have managed to bring an experienced partner on board who has the required level of industrial and production know-how to help support us in the next stages of our development and growth,” said owner Fabrizio Taddei, who will retain an operational and financial interest in the company with his family.
Margherita is an internationally trading company and is faced with a large demand globally. “This potential for growth combined with our frozen-product-know-how appealed to us and our investors straight away,” explained holding company and KADI CEO, Christof Lehmann. What is at stake here now is supporting the company in the development of professional structures. This will allow the company to satisfy the subsequent increase in demand globally whilst also maintaining top quality.
As a result, the family owners have already been able to work together with the Administrative Board of IDAK to appoint a new CEO for Margherita Srl. Andrea Ghia, 54, was born in Italy and will shortly be trained for this new role by Fabrizio Taddei. “Mr Ghia is an incredibly experienced, skilled and proven expert in the Italian foodstuffs industry,” enthused Fabrizio Taddei. “He will take over the operational and strategic side of the business as my successor.”
“Both KADI as well as Margherita will remain 100% independent. Our employees, customers, suppliers, our Langenthal site or KADI's business activities will not be affected by this acquisition,” explained Lehmann. He firmly believes this strategic acquisition of the subsidiary, IDAK HOLDING, will help to maintain its independence in the Swiss market.
About KADI AG
KADI AG is a manufacturer of chilled and frozen foods and is based in Langenthal. It employs 180 staff and generates revenue in excess of CHF 80 million. The company produces around 270 lines, which are used in more than 12,000 restaurants in Switzerland on a day-to-day basis. As an independent company operating in the Swiss foodstuffs industry, KADI sets itself apart in this market with its highly innovative products and excellent product quality. KADI has hosted the “Goldener Koch”, Switzerland’s most prestigious cooking contest, for over twenty years. In 2014, the company joined the Energy Agency of the Swiss Private Sector (Energie-Agentur der Wirtschaft) with the aim of reducing its electricity consumption and CO2 emissions by 2 percent per year. The company was established as a potato flake processing plant back in 1951.
About Margherita SrI
Margherita Srl is a premium pizza manufacturer based in northeastern Italy (Fregona), which was established in 2001. It makes chilled and frozen pizzas and pizza snacks, which are sold domestically in Italy, and especially abroad. The pizza is prepared using purely artisanal methods, and is stretched and topped exclusively by hand. Unlike automated processes, this method protects the structure of the dough and also ensures an excellent level of quality too. The company employs 250 staff and generates revenue in excess of € 40 million.
About IDAK HOLDING AG
IDAK HOLDING AG is the parent company of KADI and Margherita Srl. This holding structure has been in place for twelve years. IDAK is owned by a group of investors, namely the Zug-based Invision and Hanover-based NORD Holding, as well as the KADI management team. This holding structure makes it possible for strategic acquisitions to be made. IDAK’s objective in the long term is to develop a conglomerate made up of specialist companies and manufacturers within the premium food delight sector.
About NORD Holding
With its 50-year history and over € 2.0 billion assets under management, NORD Holding is one of the leading private equity asset managers in Germany with a focus on direct and fund investments.
The fund investments division targets the small- and mid-cap segment of the European private equity market through primaries, secondaries and co-investments.
NORD Holding has a strong focus on emerging buyout managers, hands-on investment strategies and regularly acts as an anchor investor. The division manages € 1.3 billion and ranks among the top decile fund investment groups in Europe.
The direct investments division of NORD Holding focuses on structuring and financing company succession models, acquiring parts of larger groups/subsidiaries as well as on expansion financing of medium-sized companies. In contrast to most other financial investors, who only manage closed-end funds, NORD Holding acts as a so-called "evergreen fund", thereby investing from its own balance sheet with no maturity restrictions. Currently, the fund has interests in more than 15 companies in the DACH region.