Key Takeaways
- • Bluegem Capital Partners is acquiring a majority stake in Italian frozen-food maker Rispo Group from Europe Capital Partners, with Rispo's management investing alongside as a minority owner; financial terms were not disclosed.
- • Bluegem estimates Rispo will generate more than €90m ($100.8m) in revenue this year and around €14m in EBITDA.
- • Rispo operates four factories in Italy, employs around 250 people, and supplies the domestic market and 15 other countries across retail, foodservice and B2B channels.
- • Bluegem plans to pursue a pan-European platform in premium frozen specialities, with a particular focus on premium frozen pinsa/focaccia romana for international markets, plus add-on acquisitions in Italy and across Europe.
- • Franck Bocquet remains CEO, while former Campari and Bacardi executive Paolo Perego is appointed chairman.
Summary
Bluegem Capital Partners is taking a majority stake in Rispo Group, the Maddaloni, Campania-based frozen-food manufacturer, acquiring the business from Europe Capital Partners. Rispo's management team will also invest in the firm and hold an undisclosed minority interest. Financial terms were not revealed, according to the announcement.
Rispo makes products including arancini, olive all'ascolana and fiori di zucca for retail, foodservice and B2B channels. The company owns the Rispo brand as well as the Garbo, Gela and Panificio Villa lines, produced at four factories in Italy. Per a statement from Bluegem, it supplies the local market and 15 other countries and employs around 250 people. Bluegem estimates revenue this year of more than €90m ($100.8m) and EBITDA of around €14m.
Bluegem said its ambition is to build on Rispo's foundations to create a pan-European platform in premium frozen specialities. Together with management, the firm plans to accelerate international growth, particularly in premium frozen pinsa/focaccia romana, where foreign demand is expanding rapidly. Other priorities include strengthening the commercial organisation, investing in product innovation and pursuing add-on acquisitions in Italy and across Europe.
Franck Bocquet will continue as CEO. Former Campari and Bacardi executive Paolo Perego will become chairman, and Ibrahim Najafi, Bluegem's chief transformation officer and former CEO of ice-cream business Froneri, will support the company. Bocquet said Bluegem and Perego bring in-depth food-products expertise, a track record in building international platforms and a hands-on approach to value creation.
Bluegem has around €1bn in assets under management and has been minority owned since 2025 by Lagfin, the Luxembourg-based holding company of the Garavoglia family behind Campari. Bluegem CEO Emilio Di Spiezio Sardo said food and beverage is a strategic sector for the firm and that Rispo is the ideal platform for that strategy. Bluegem's existing food and beverage investments include the Big Fernand burger chain, the Lateral Spanish restaurant group and the Nutrimuscle sports nutrition brand, according to its website.
Rispo makes products including arancini, olive all'ascolana and fiori di zucca for retail, foodservice and B2B channels. The company owns the Rispo brand as well as the Garbo, Gela and Panificio Villa lines, produced at four factories in Italy. Per a statement from Bluegem, it supplies the local market and 15 other countries and employs around 250 people. Bluegem estimates revenue this year of more than €90m ($100.8m) and EBITDA of around €14m.
Bluegem said its ambition is to build on Rispo's foundations to create a pan-European platform in premium frozen specialities. Together with management, the firm plans to accelerate international growth, particularly in premium frozen pinsa/focaccia romana, where foreign demand is expanding rapidly. Other priorities include strengthening the commercial organisation, investing in product innovation and pursuing add-on acquisitions in Italy and across Europe.
Franck Bocquet will continue as CEO. Former Campari and Bacardi executive Paolo Perego will become chairman, and Ibrahim Najafi, Bluegem's chief transformation officer and former CEO of ice-cream business Froneri, will support the company. Bocquet said Bluegem and Perego bring in-depth food-products expertise, a track record in building international platforms and a hands-on approach to value creation.
Bluegem has around €1bn in assets under management and has been minority owned since 2025 by Lagfin, the Luxembourg-based holding company of the Garavoglia family behind Campari. Bluegem CEO Emilio Di Spiezio Sardo said food and beverage is a strategic sector for the firm and that Rispo is the ideal platform for that strategy. Bluegem's existing food and beverage investments include the Big Fernand burger chain, the Lateral Spanish restaurant group and the Nutrimuscle sports nutrition brand, according to its website.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.