Livingstone acted as exclusive financial advisor to Agras Pet Foods (“Agras”), a leading Italian brand in premium pet nutrition, on the acquisition of Cerere Produzione S.r.l. (“Cerere Produzione”), a company specialized in the production of high-quality private label dry pet food.
Founded in 1986 in Genoa, Agras is recognized as a European leader in the distribution of natural foods for dogs and cats, with a particular focus on wet complements and toppers. Operating through the brands Schesir, Stuzzy, and ADOC, the company serves over 3,000 clients across 40+ countries and generates annual revenues exceeding € 100 million.
Since 2017, the majority of Agras Pet Foods has been owned by financial investor NXMH, with Pietro Molteni, the company’s CEO, holding a minority stake.
The acquisition of Cerere Produzione, based in Neive (Cuneo), marks a significant step in Agras Pet Foods’ strategy to strengthen its vertical integration. The deal provides direct access to production capacity in the dry pet food segment, complementing the company’s core competencies in branding, innovation, and international distribution.
“We are proud to have supported Agras in identifying and acquiring a strategic partner to advance its vertical integration in dry pet food,” said Luca Maccagnani Castelli, Managing Partner at Livingstone. “The transaction also included the carve-out of the manufacturing plant from Cerere’s commercial operations, adding technical complexity to the deal structure”.
Pietro Molteni, CEO of Agras Pet Foods, added: “The transaction is part of Agras Pet Foods’ strategy to develop a portfolio of innovative dry products, to be distributed both in Italy and abroad. By gaining direct access and control over production capacity, Agras Pet Foods aims to take responsibility for the entire value chain, from procurement to production.”
This transaction further strengthens Livingstone’s track record in the Consumer Goods sector and confirms its role as a trusted advisor for companies pursuing growth through strategic acquisitions and vertical integration.
