CLESSIDRA PRIVATE EQUITY ACQUIRES EVERTON,
A LEADING BUSINESS IN TEAS AND INFUSIONS
Clessidra Private Equity SGR - one of the largest Italian private equity firms focused on the upper-mid market - announced the acquisition of Everton, a leading player specialised in teas and infusions. Federico Dodero, CEO at Everton, will retain a minority stake and continue in his operative role.
Everton offers a vast product portfolio of teas and infusions, which is over-indexed vis-à-vis the market in terms of directly sourced organic products and sustainable packaging solutions. The company leverages on an unmatched integrated supply chain to provide its first-tier clients with quality, innovation, origin traceability, and price competitiveness.
Everton, headquartered in Milan, has direct operations in Italy, India and Croatia, and a sales branch in the US. Over last decade, Everton’s expansion was driven by infusions, today accounting for the majority of the company’s revenues. Globally, infusions continue to outgrow other hot beverages as consumption patterns in core regions are changing, with consumers seeking functional and premium products linked to well-being (relax, detox, digestion, etc.).
Everton has established long-standing relationships with top retailers both in Italy and abroad and reached over Euro 40 million of revenues. The investment in Everton represents the fourth transaction of Clessidra Capital Partners 4 and will support management’s ambitious growth plans building upon Everton’s strong momentum. The transaction will see Federico Dodero reinvest in the business alongside other key senior managers, all fundamental to guarantee continuity for this next chapter of the company’s history.
Clessidra’s investment team was coordinated by Rebecka Swenson, Managing Director and included Mario Balestrazzi, Investment Director and Vittorio Basei, Associate.
“We are thrilled to partner with Everton, which over last years has established itself as preferred partner for primary modern trade operators, both in Italy and abroad” said Andrea Ottaviano, CEO at Clessidra Private Equity SGR. “Everton has consistently outperformed its reference markets generating double digit revenue growth for more than 10 years. We look forward to supporting Everton’s continued success and working with Federico Dodero and the outstanding team at Everton to support their vision.”
Rebecka Swenson, Managing Director at Clessidra added: “Everton is an excellent platform on which to construct a sustainable growth project. We are extremely pleased to have the opportunity to help Everton further extend its leadership position, both across Europe, but also in the US, and we will build on current success and identify adequate targets across core regions to accelerate the already outlined growth path.”
“Clessidra’s unparalleled experience in building leading and sustainable businesses through aggregation projects and deep understanding of the consumer market make them an ideal partner for Everton,” said Federico Dodero. “Clessidra appreciates our uncompromising commitment to product quality and direct sourcing to satisfy our clients’ requirements, and we know their financial and operational expertise will be invaluable during this next phase of growth. Together with Clessidra, we look forward to expanding our global footprint and continuing our expansion path while staying true to the qualities and values that have permitted us to reach our current position.”
