The die is cast: the agreement with the private equity fund assessed has not been concluded.

The three-year programme:

• Launch of the exclusive concept
• Setting up of a non-profit animal rights oriented foundation and conferment of free shares
• Placement of the remaining shares on the market with limits on ownership in order to guarantee a broad, popular shareholder base

Below, the declarations of the Founder of Almo Nature, Pier Giovanni Capellino, published on the site of Il Sole 24 ore.

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(FIN) Almo Nature: pet foods say no to funds and set their sights on the Stock Exchange with Mediobanca

Aim: Listing in 3 years. Towards a “supporters’ trust” type shareholder base.

(Il Sole 24 Ore Radiocor) - Milan, May 6 - Almo Nature says no to private equity and enlists Mediobanca to design a three-year growth path with the final goal of listing on the Stock Exchange.
The Genoa-based pet food company, projected to fame by Oliviero Toscani’s advertising campaigns, has interrupted negotiations for sale initiated with a fund that calculated the value of the company as around 100 million and has launched a "stand alone" development project assisted by Piazzetta Cuccia.
"Mediobanca will act as our advisor for the next three years – explains Chairman and Founder Pier Giovanni Capellino - and will assist us all matters regarding the budget and in drawing up the industrial plan in December ". At the end of 2010, Almo Nature, which closed financial 2010 with revenues of 50 million and ebitda of just over 10 million, had initiated what was to be an unsuccessful procedure to locate a financial or industrial partner.
Hence the decision to initiate a path towards three-year growth in order to list its shares on the Stock Exchange in 2014: "We aim to achieve a consistent increase in our volume of business – adds the Chairman – and, for listing, we intend to set up an ownership structure with a Foundation as reference shareholder, with around 30%, and with the rest in the hands of a supporters’ trust type shareholder structure with a ceiling of 0.5%".

Source: Il Sole 24 Ore Radiocor

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 (Il Sole 24 Ore Radiocor) - Milan, May 6 – To achieve the twofold goal of transforming both its shareholder structure and of increasing size and reach, the Genoa-based company will appoint new managerial figures to the Board of Directors and also launch new products lines able to boost growth also on the markets. In fact, 2010 turnover increased at a meagre rate (around 2%) "due, especially in Italy - comments Capellino – to ageing of the product line and also the fact that, due to the current economic crisis, customers are tending to move away from specialist shops towards large-scale retailing". The company hopes that development will take its first step forward in September with the launch of a completely new product line that will be reserved for specialist pet food channels and not for large-scale retailing.

Source: Il Sole 24 Ore Radiocor - 2