Livingstone acted as exclusive financial advisor to the shareholders of Panificio San Francesco S.p.A. (”Panificio San Francesco”), a leading Italian producer of pre-baked frozen bread, in the sale of a majority stake to Finint & Partners, now known as Itago Partners, an Italian private equity firm specializing in investments in small and mid-sized companies with strong growth potential.
Founded in 2006 and headquartered in Codevilla (Pavia), Panificio San Francesco is one of the main private label producers of pre-cooked frozen industrial bread for the retail and supermarket sectors. In 2017, the company generated revenues of approximately € 20 million, with an EBITDA margin of around 20%.
The transaction marks a key milestone in the company’s trajectory, aimed at reorganizing the shareholder structure and unlocking its next stage of development. Under the new ownership, Panificio San Francesco is expected to benefit from increased investment capacity, operational innovation, and expanded market reach.
Isidoro Roncato, shareholder and executive of Panificio San Francesco said: “We selected Finint & Partners as our new partner to embark on this next phase of growth, recognizing their structured approach and proven expertise in working with SMEs and managing the organizational and operational complexities that will arise in this new phase of development.”
“This transaction highlights Livingstone’s ability to navigate diverse shareholder objectives and engage effectively with financial investors,” commented Luca Maccagnani Castelli, Managing Partner at Livingstone.
This deal reinforces Livingstone’s strong track record in the Food sector and its expertise in advising entrepreneur-led businesses on complex and strategic transitions.
