Italian coffee producer Segafredo Zanetti has re-started initial public offering procedure (after the process had been postponed in October 2014). The company is planning to debut on the Milan Stock Exchange in the first half of 2015 to help fund international acquisitions and growth.
In July 2014, Massimo Zanetti Beverage Group, the Zanetti family holding which controls 100% of Segafredo Zanetti, hired Banca IMI, the corporate and investment banking arm of Intesa Sanpaolo, with the intent to list the company on the Milan Stock Exchange in November 2014.
According to Italian news agency Adn Kronos, on Tuesday February 3, Pilar Braga, member of the Board of Mzb Group and Director of Segafredo Zanetti Australia and New Zealand, said:
“We want to sell up to 30% of the capital. Following advice, the process was postponed in October 2014 but we now want to enter the stock market by May 2015”.
In 2013, Zanetti’so earnings, before interest, tax, depreciation and amortisation was €70m, and total revenues of about €1bn. Operating margin was at about 4%.
Mzb Group is the fifth biggest coffee producer, after giants like Nestlé and Kraft. The headquarters are based near Bologna in Northern Italy.
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