Pleiades Capital ha acquired 70% di Victoria Health Nutrition (Vhn) through the holding Romagnadiet, controlled by Orienta Capital PartnersThe operation was carried out through a club deal, co-financed at 20% by the sponsor, and represents the first private equity investment for the holding founded by Marcello Tedeschi and Andrea Levi.
Focus on sports and health nutrition
Vittoria Health Nutrition, based in Cherasco (Cuneo), specializes in the production of protein wafer snacks and sugar-free chocolate for sports and health nutrition, operating in B2B and private label mode. The company closed 2024 with revenues of 4 million euros, of which approximately 60% are made abroad, a Ebitda margin above 15% has always been 20% growth forecast in the current year.
Development and investment objectives
Il Strategic Plan defined by Pleiades Capital includes team strengthening, production expansion, research and development activities and an external growth strategy, maintaining VHN's current positioning in the functional segments. Guido Dracone, minority shareholder and current CEO, will maintain operational leadership of the company in this new phase.
The advisors involved
In the operation, Pleiades Capital was assisted by the firm PedersoliGattai as legal advisor, with a team composed of Giovanni Pedersoli, Giuseppe De Cola and Roberta Danese, and by Deloitte for due diligence, under the guidance of Mario De Blasi.
For Orienta Capital Partners, the transaction was conducted by the partner Augustus Crossbow, with the support of Stephen Pompignoli (associated) and Francesco Barbi (senior analyst). Legal assistance was provided by the firm BIP Law, with a team led by John Shehata, while Apical acted as financial advisor with Federico Vai, Giuseppe Covini and Pier Francesco Biglione.
Guido Dracone and Vittoria Health Nutrition were assisted by Portolano Cavallo Law Firm, with Luca Gambini and Ginevra Sforza.
Comments
“This operation has a strategic value for us: it is the first acquisition in private equity of our holding, created to invest directly and promote club deals in venture capital and private equity”, stated Tedeschi. The goal is to “generate positive impact” by supporting the growth of companies “both internally and externally,” with a particular focus on “sustainability and ethics.” Vhn, he says, “fully reflects our vision.”
For Dragon “the entry of Pleiades Capital gives new impetus to our growth plan”, especially abroad, where today “60% of the turnover is concentrated”. The company now intends to “accelerate our path of expansion and consolidation”.
Augusto Crossbow, partner of Orienta Capital Partners, highlights “the important generation of value” created in the journey with Vhn, which has “tripled its turnover” and now, with the entry of Pleiades, faces “a new phase of expansion”.
