Winnerge acted as sell-side advisor to the ownership of DOMENIS1898, working closely with Alain Rubeli throughout the entire process. Together, we shaped a transaction based on clear industrial objectives and the ambition to secure a solid and coherent future for the company.
Ferrero has announced the acquisition of WK Kellogg Co, a historic U.S. cereal producer, strengthening its foothold in the North American market. The move reflects a clear long-term strategy: diversify the product portfolio, enter new categories and relaunch iconic brands with fresh momentum.
Melegatti, the historic company from Verona that invented pandoro in 1894, has been acquired by Valeo Foods, an Irish food group undergoing strong expansion. The deal was carried out through Balconi, an Italian company already in Valeo’s portfolio, with the goal of integrating a recognisable, highly seasonal brand with growth margins not yet fully expressed.
In Italian business culture, selling a company is still often seen as a failure. For many SMEs, it feels like surrendering, walking away, ending a chapter with a bitter aftertaste. The reality is different, but the prejudice remains.
In recent years, more and more Italian SMEs have been approached by private equity funds. A phone call, an email, a LinkedIn message: "We’re interested in your company. Can we talk?"
The integration of Eurostep into Orvian Group — a strategic initiative promoted by Xenon Small Cap — marks the beginning of a new growth chapter for the company led by Simone Bittotto. Winnerge acted as exclusive sell-side advisor throughout the transaction.
In the world of small and medium-sized enterprises, some of the most critical decisions emerge quietly. An entrepreneur hints at fatigue, a desire to sell, the need for growth, or the search for an industrial partner.
When it comes to selling a company, the real question is not whether to sell, but to whom. Each buyer type, whether a private equity fund, an industrial partner or a direct competitor, has a unique approach to valuation and distinct goals for the company’s future.
During direct conversations with the entrepreneur, discussions often follow a standard pattern: financial performance, cost structure, and liquidity status. Then, without warning, a question arises that falls outside the scope of ordinary management. That’s when the dialogue shifts to another level.
In the world of small and mid-sized enterprises, many M&A processes begin too late when performance is declining or the owner has already made difficult decisions. At that point, the window to create value narrows and room for negotiation shrinks.
