Recent news from abroad has it that Eataly has had a change of ownership. Investindustrial, headed up by Andrea Bonomi, has acquired 52% (majority) share for about $200 million. Not a ridiculous amount for a concept that started almost 20 years ago.
Now, according to the website, Grocery Dive, Eataly is in “more than 40 locations in 15 countries including eight flagship stores in North America and 16 franchise stores across Europe, the Middle East and Asia.” Quite a jump from their initial shop in Northern Italy.
$200 million seems like a small amount for 40 locations. I wonder how much debt the original company might have piled up. Was that debt erased? Who, if anyone, walked away with millions? What changes will come about? Expect more expansion, and expect the Bastianich family will sell their shares, as part of the deal (as per The Financial Times).