The investment Fund Taste of Italy 2, managed by DeA Capital Alternative Funds SGR S.p.A., has acquired a significant stake in the capital of the Spanish restaurant chain Pizzerias di Carlo S.L. (Pizzerías Carlos).
With 73 stores across Spain, 39 of which franchised, the group is immersed in an outstanding expansion process, progressively confirming is position among the leading pizza brands in Spain.
Pizzerías Carlos has been active in the Spanish market since 2009, has experienced a stable growth over the years, even during the pandemic period, thanks to its outstanding positioning within the delivery market. In 2021, the company had a turnover of 40 million euros, which represents an increase of 26.5% over the previous year, and the success of a team of more than 1,800 professionals.
According to DeA Capital Alternative Funds’ Managing Director, Leopoldo Reaño: “We are enthusiastic about supporting the team led by Francesc Ros and Xavier Crespo in the development of their expansion project in the Iberian Peninsula. Pizzerias Carlos has shown a significant capacity to grow, even in difficult times for the Horeca sector such as Covid-19, and we are convinced of its ability to continue developing, based on the attention to the quality of its products and its excellent customer service, both in the in-store service and in home delivery.”
DeA Capital Alternative Funds was counselled by Garrigues, with a Corporate/Commercial team formed by partner Ildefonso Polo, counsel Felipe Martínez-Caballero, and associates Estrella Pulido and María Estévez.
Pizzerias Carlos´s shareholders were advised by Hogan Lovells, with a team led by partner and head of the Private Equity practice in Spain Graciela Llaneza, along with associate María Gutiérrez and Tax partner Javier Gazulla.