BC Partners buys Italy’s Forno d’Asolo in deal valuing group at 300 mln euros, says source: Reuters

Private equity firm BC Partners has bought Italy’s Forno d’Asolo in a deal that implies an enterprise value for the pastry company of around 300 million euros ($353 million), one source close to the transaction said on Tuesday.

BC Partners said in a statement earlier on Tuesday it had acquired the food group from 21 Partners, the investment fund of Italian entrepreneur Alessandro Benetton.

Forno d’Asolo, which makes frozen pastry and bakery products, is expected to report core profits of 25 million euros for this year.

Rothschild and Mediobanca acted as financial advisers for 21 Partners, while Intesa Sanpaolo assisted BC Partners in the acquisition.