Demas gave a majority stake to Gioconda
Demas gave a majority stake to Gioconda, Italian branch of LBO France, through the fund Small Caps Opportunities. The operation saw the participation of 2 co-investors: the Group Banca IFIS, Italian player working in specialty finance, and the Group Giovanni Ambrosetti, of Demas management.
The Company will still be guided by the present President and CEO Fabrizio Foglietti, and from Foglietti family, only owner until nowadays, who will keep on be strongly involved besides the new stakeholders.
With its headqrter located in Roma and a staff of over 160 people, the turnover of Demas Group grew from 50 million euros in 2009 to 100 million euros in 2016, until 126 million euros in 2019. Together with Gioconda, Italian branch of LBO France, the group wants to continue the business development through their own brands and lines, also widening the present range of products, and though external lines, evaluating opportunities of investment in Italy and abroad.
Founded in 1969 by Remo Foglietti, Demas gradually specialized in pet products. Now the society has 3 different and complementary divisions: Demas, focused on wholesale distribution of vet products; Foschi, directly addressed to vets, offering a complete range of dedicated products and machineries; and Giulius, focused on retail distribution of pet food and pet products, with a network of 7 pet shops in Rome.
Fabrizio Foglietti, CEO of Demas group, stated: «The entry of Gioconda is a great news for Demas Group. Their presence is key to support us through this big transition, both internally, in particular helping us to structure what until now was a family run company, and externally, with an increasing presence of the Group on the Italian and international market».
Arthur Bernardin, managing director of Gioconda, added: «We are glad to support Demas Group in this brand new stage. During the contacts with Foglietti family, which started about 4 years ago, we have been conquered by this Company, which was able to state as a leader in the vet market in Italy, addressing to pharmaceutical distributors, vets and pet owners. Its presence in those 3 segments is a precious resource in this resilient market, which grows 5% a year, guided by the growing medicalization of pets ».