Cremonini, Percassi ink deal to form multi-brand operator
The venture looks to reach more shopping centres, malls and retail parks.
Cremonini Group subsidiary Chef Express and Percassi have agreed to create a multi-brand operator that will target a larger presence in shopping centres, malls, outlets and retail parks.
Under the agreement, Chef Express acquired 60% of Percassi Food & Beverage, which is renamed C&P S.r.l, whilst the remaining 40% remains in the property of Percassi through Odissea S.r.l.
C&P S.r.l currently manages 16 outlets, consisting of the Casa Maioli, Caio Antica Pizza Romana and Wagamama brands.
Chef Express, which is Cremonini’s catering arm, has also directly acquired one Caio Antica Pizza Romana and another branded Wagamama previously managed by Percassi Food & Beverage.
Outside of C&P’s portfolio, Starbucks brand will continue its development in Italy exclusively within Percassi.
C&P S.r.l expects to open twenty new sales points annually. The new company will also act as an incubator and developer of new catering concepts, or by aggregating existing ones, including those from foreign operators interested in developing their brands.
“The birth of C&P represents an important synergy between two large Italian groups, which permits the combination of Cremonini's catering management and operational skills with Percassi's know-how in real estate development and retail. The agreement with Percassi, therefore, through the expansion of our catering brands portfolio, will allow us to seize further growth opportunities,” chief executive Vincenzo Cremonini said in a statement.
“We will work synergistically to develop even the brands controlled by Chef Express, by pooling specific skills, in particular by giving our contribution to retail development thanks to our experience in the sector,” Odissea director Matteo Percassi added.
Photo credit: Casa Maioli Facebook
