Progressio has sold its 38% stake in Polenghi, a leader in lemon juice products, to an investment vehicle led by entrepreneur Marco Polenghi, with the management team reinvesting alongside.

Target Company Overview

Progressio, through its private equity fund Progressio Investimenti III, has completed the sale of its 38% stake in Polenghi, a prominent manufacturer of lemon juice-based products, to an investment vehicle controlled by entrepreneur Marco Polenghi. Other investors in this transaction include Crédit Mutuel Equity and IDIA Capital Investissement, a firm under Crédit Agricole. Filippo Scandellari, the CEO of Polenghi, and other key management team members have also chosen to reinvest alongside the new shareholders.

Polenghi operates under both proprietary brands and private labels, generating over 95% of its revenues from international markets. The company has five manufacturing facilities located in Italy, the Netherlands, Belgium, and the United States. Under the leadership of Progressio and CEO Filippo Scandellari, Polenghi has successfully doubled its EBITDA and surpassed annual revenues of €100 million, largely driven by significant investments in organizational structure and manufacturing capacity.

Industry Overview

The lemon juice product market is a vital segment within the broader food and beverage industry, experiencing substantial growth in recent years. This growth is largely attributed to rising consumer demand for healthy and natural f