Riverside buys Italian food ingredients maker Optima

US-headquartered private investor Riverside has purchased Optima, an Italian manufacturer and marketer of food ingredients, and its related assets (dba Mec3).

The terms of the deal have not been disclosed.

Mec3, based in San Clemente, Italy, offers gelato and pastry ingredients to global ice cream manufacturers.

The company generates annual revenues of around €100m and has more than 60,000 customers.

Riverside partner Karsten Langer said, “Iced desserts and snacks, particularly high-quality artisanal options like gelato, are becoming increasingly popular globally, and Mec3 is uniquely positioned to capture this global market.

“We’re excited about the prospects of working with the Mec3 management team to help the company achieve even greater success.”

The private equity firm plans to invest in R&D, develop new products, maintain Mec3’s expertise, strengthen the management team, and boost global growth.

Mec3 founder and president Giordano Emendatori said, “After 30 years of developing Mec3, I am delighted to see the company in the hands of an experienced growth-focused investor like Riverside.”

Intermediate Capital Group (ICG) and GE Capital Interbanca provided debt financing for the transaction, while Lexington Partners, ICG and a family office investor provided equity co-investment.

Established in 1988, Riverside is focused on acquiring businesses valued at up to $250m, and its portfolio includes more than 70 companies.