Eataly set for global expansion after US$200 million cash injection

Eataly is set for international expansion after an Italian investment company took a 52 per cent stake in the business for US$200 million.

What happened

Gourmet Italian restaurant and grocery concept Eataly is set for major international expansion after an Italian investment company took a 52 per cent stake in the business for about US$200 million.

Why it matters

Investindustrial said its investment will allow Eataly to retire debt and maximise financial flexibility to fund Eataly’s global expansion plans. The family of the founder, Oscar Farinetti, and other shareholders will maintain the minority 48 per cent stake.

Founded in 2003, Eataly describes itself as “the largest Italian retail and dining experience in the world, transforming the way consumers enjoy Italian food, beverage and, culture through markets, counters, cafes, restaurants and educational offerings”. It has 44 stores in 15 countries, including Italy, the US, Canada, the UAE, Japan, South Korea, Germany, Great Britain, France, Sweden and Brazil and is planning more stores in some of the world’s major cities. This year it anticipates turning over around $300 million.

When the deal is settled, CEO Nicola Farinetti will move into the role of chairman and a new CEO will be announced shortly to lead the international expansion.

This news brief is based on reporting published by Inside Retail Asia on 2022-09-24. The original report is linked below.