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Eataly clinches €120 million investment

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Eataly clinches €120 million investment
Eataly was established in 2003. Photo: Eataly

Italian food company Eataly has sold a 20 percent stake to Tamburi Investment Partners (TIP), as part of a plan to list the rapidly-expanding retailer on the stock exchange in 2016/2017, the buyer said on Monday.

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The Milan-based investment firm paid €120 million for its stake in Eataly, paving the way for the food company’s global expansion.

Since being established in 2003, Eataly has opened retail outlets across Italy and internationally, and this year expects to reach €400 million in consolidated revenues, TIP said in a statement.

Despite the challenging business climate in the Italian market, Eataly has succeeded in marketing itself as offering high-quality products to customers at home and in outlets in New York, Dubai and elsewhere.

A new store in Florence has recently opened, while plans are in place for a Milan outlet and further expansion in the US.

SEE ALSO: My Italian Career - Director, Rome Eataly

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