Quadrivio & Pambianco, Capdesia to acquire Italy's Alice Pizza

Alice Pizza is a Rome-founded fast casual pizza chain with 231 sites across Italy and internationally

Quadrivio & Pambianco has partnered with foodservice investor Capdesia Group and co-investors including CVC-owned Pergolesi to acquire Alice Pizza. 

Alice is Italy's largest fast casual pizza chain, according to a statement. It is currently controlled by Green Arrow Capital. 

The business recorded sales of over €115 million last year, with consolidated Ebitda of €12.6 million. 

Founded in Rome, it has 231 sites, with 220 in Italy. The new owners aim to boost the company's Italian and international growth in Europe, Asia and potentially the US. Approximately half its sites are directly managed and half are franchised.

The deal is the seventh investment for Lifestyle Fund II, whose existing portfolio includes restaurant chain Osteria Da Fortunata, sneaker brand Autry and womenswear label Twinset.

"On a global scale, the unique marriage of its high-quality product, fast operating model and affordable price point gives Alice the potential to disrupt the global legacy pizza players in the same way that Five Guys and Shake Shack disrupted burgers," said H. Ashton Crosby, co-founder and managing director of Capdesia Group, in a statement.

Financial terms were not disclosed. The acquisition was financed by a pool of banks including BPER, IFIS, Sella and UniCredit.