- Posted by: Qualitas Funds
- Category: Acquisitions
We are pleased to announce the addition of Nappi 1911 to the Qualitas Funds III portfolio through our Italian manager.
Our Italian manager has acquired a majority stake of Nappi 1911, a leading Italian manufacturer of semi-finished products and ingredients for jellies used in the production of artisan ice cream, pastries and sweets. This is the fourth acquisition of the Italian Fund.
Nappi 1911 was founded at the beginning of the 20th century in San Gennaro Vesuviano (Naples) by the Nappi family, who have retained ownership of the business for over a century. In its early days, the company focused primarily on the production of candied and dried fruits– since then the company has grown into the ingredient and semi-finished product sector. Nappi has achieved a wide market footprint, serving retail channels in over 70 countries and generating a turnover of €40 MM in 2019.
Our Italian manager believes this acquisition to be a unique and strategically advantageous opportunity within the internationally recognized Italian food market. Furthermore, our Italian manager’s experience as a manager of industrial companies, combined with strong market tailwinds in favor of Nappi’s market segment, strengthens the investment thesis and highlights the investment’s attractive growth profile.