Shopping for Spoon Brands, Spoon Holding’s basket company specialising in food retail, which acquired 45% of the capital of Rossopomodoro, the chain of pizzerias specialising in Neapolitan cuisine with over 100 restaurants worldwide. The objective is to accelerate the development of Rossopomodoro. This operation consolidates Spoon Brands’ vision of investing in Italian brands of excellence, supporting them in their growth with a long-term strategic approach, as well as in international brands that want to enter the Italian market. After KFC – Kentucky Fried Chicken, a global leader in the fried chicken sector, Milos Greek Food, the first Greek street food chain in Italy, and Antica Focacceria San Francesco, a historic brand of traditional Sicilian cuisine, Spoon Brands adds an icon of Made in Italy to its portfolio.
“Entering the world of pizza with Rossopomodoro is a fundamental step for Spoon Brands,” comments Corrado Cagnola, CEO of Spoon Holding. “We are adding a strategic piece to our commitment to invest in and support historic food retail brands, and we are doing so with the most recognised and loved brand for Neapolitan pizza, both in Italy and abroad. Our proven ability to invest in valuable brands, combined with Rossopomodoro’s strong positioning, creates a winning synergy. We are ready to give a decisive boost to the development of this brand, further enhancing its uniqueness and tradition’. The entry of Spoon Brands in the capital of Rossopomodoro will help finance an ambitious development plan that envisages the relaunch of the historic brand and the expansion of the presence of its pizzerias both in Italy and abroad, leveraging the current casual and fast formats that will evolve with an eye to modernity, innovation, and the tastes of the public and one to tradition.
“After the recent successes and new openings in prestigious locations such as Eataly Miami, Milan Piazza Duomo and Rome Galleria Sordi, this agreement with Spoon Brands confirms and supports our expansion strategy,” adds Nicola Saraceno, Managing Director of Rossopomodoro. “Working with a solid and authoritative partner such as Spoon Brands will allow us to accelerate our growth, both through franchising and direct management. We will continue to focus on our core values: the use of the highest quality raw materials, selected from Italian and Campania suppliers, and the offer of an authentic experience, whether in a casual dining context or with quick service. The objective is always the same: to let our customers enjoy the authentic flavour of pizza, an Italian must, and the other typical products of our extraordinary Neapolitan tradition’. With 70% of its premises in franchising, Rossopomodoro collaborates with important partners such as Areas and Autogrill/Avolta, as well as local entrepreneurs who over the years have increasingly believed in the brand and made its growth possible. The exclusive partnership with Eataly, the gourmet marketplace that promotes Italian excellence around the world, testifies to its role as a reference point for Neapolitan pizza in all North American locations.
In the transaction, Rossopomodoro’s shareholders were assisted by Spayne Lindsay & Co. (M&A advisor), Dentons (legal advisor for Debt and Corporate aspects) and Vanzetta (tax advisor). CMS acted as management advisor. Spoon Brands was assisted by Chiomenti for all legal aspects, by KPMG Financial for the financial aspects and by Vitale as M&A advisor.
Dining and Cooking