Gelit
Country: Italy
Region: Lazio
Investors: Consilium
Gelit is a leading player in the production and marketing of frozen pasta-based ready meals and crêpes for the private label market.
When Consilium bought Gelit in 2007, it was a non-core business of Barilla. Under Consilium’s guidance, Gelit changed from being a company highly dependent on Barilla’ infrastructure to a robust, stand-alone business. By focusing on private label, supplier optimisation and entering new profitable markets and channels, Consilium turned Gelit into a leading frozen ready meals producer leveraging on Italian food know-how and appeal. Consilium sold Gelit in June 2012 to New York-listed Ralcorp (now part of ConAgra Foods group), earning 3.7 times its investment.
Stefano Mattioli
CEO - Gelit
I would like to thank Consilium for the support during these crucial years which allowed us to hit our ambitious targets. We enjoyed a very constructive relationship on strategic objectives thanks to their proactive and challenging approach
50%
increase in revenues to €36m
40%
exports, up from 25%
What did the business need?
Focus on core private label business
Assistance to build a stand-alone business
New markets and channels development programme
Financial discipline
How did private equity backing create lasting value?
Hired new highly qualified management team
Built the infrastructure required to flourish as a stand-alone business
Invested significantly in plant reorganisation and energy saving
Established a new network of brokers/distributors worldwide to grow international sales
Entered the food service channel
Increased R&D spend to develop new recipes
What outcomes did private equity investment achieve?
Increased revenues from €24m in 2006 to €36m in 2012
Grew profitability from 14% to 17% of sales
Improved operations through 10% energy costs savings and 20% productivity increase
Increased exports to 40% of sales, up from 25%
Grew employee numbers by 18% to 132
Investors
