Investindustrial becomes majority shareholder of Eataly

Eataly, the world's largest Italian retail and dining provider, has received a €200m (£174m) investment from European private equity firm Investindustrial to pursue its global expansion.

Investindustrial has also become the majority shareholder of the company (52%), following its concurrent purchase of shares held by existing shareholders.

Existing investors including the Farinetti family and Italian private equity firm Tamburi Investment Partners now collectively own 48%.

The investment will allow Eataly to retire net financial debt and pursue its global expansion plan through the opening of more flagship stores.

Nicola Farinetti, the son of Eataly's founder Oscar Farinetti and current chief executive officer, will take on the role of chairman of the company. A new chief executive is to be announced in due course.

Andrea C. Bonomi, chairman of Investindustrial's Advisory Board, said: "Thanks to the vision and entrepreneurial ability of the Farinetti family, Eataly represents a unique and innovative player that has led the revolution of the concept of high-quality Italian food all over the world. We look forward to supporting Eataly by leveraging our deep experience in helping companies grow globally with the highest ESG and sustainability principles."

Nicola Farinetti added: "The agreement we signed launches a strategic partnership that propels Eataly into a new phase of its history, by accelerating its international growth. This partnership will allow us to strengthen our unique format worldwide, promote innovative projects related to innovation and enhance our capabilities."

Eataly was founded in 2003 and currently runs 44 shops across 15 countries, including Italy, the United States, Canada, Japan, and Germany.

It opened its first UK site close to London's Liverpool Street station in 2021.