Dolciaria Acquaviva, an Italian company which specializes in frozen baked goods, has sold its majority stake to Belgian private equity firm Ergon Capital Partners.
Following the transaction, CEO Pierluigi Acquaviva and managers Giuseppe and Marco Acquaviva will continue to lead the company and reinvest alongside Ergon, retaining a minority stake.
“This partnership creates opportunities to accelerate the company’s growth trajectory. In Ergon, we found the best partner to write a new chapter in our family business that will recently celebrate its 40th anniversary. Throughout our discussions, we particularly appreciated the fact that Ergon and our family share the same values and vision on the development of our company,” said Pierluigi Acquaviva.
Founded in 1979, Acquaviva has a widespread product portfolio of approximately 560 sweet and savory options. The company operates through a state-of-the-art plant in Gricignano di Aversa (Caserta) with three production lines. The third production line is operational since early 2019 and has more than doubled the production capacity of butter and margarine based croissants.