Italmobiliare to sell 80% of Capitelli to CA Animation at €36 million enterprise value

Italmobiliare has signed a binding agreement to sell its entire 80% stake in Capitelli Fratelli S.r.l. to the European agri-food group CA Animation. The deal values 100% of the company at an enterprise value of €36 million. Italmobiliare, the Pesenti family's Milan-listed holding, puts its return at three times cash invested, including dividends collected during the hold, for a 20% internal rate of return.

Italmobiliare acquired its 80% of Capitelli from Angelo Capitelli at the end of 2019. Family Office Hub reported that Capitelli's revenue reached €24.7 million in 2025, more than 70% above the 2019 base. The company was founded in 1976 by Claudio Capitelli in Borgonovo Val Tidone, in the province of Piacenza, and its San Giovanni cooked ham, created in 1994, sells through roughly 2,500 resellers to hotels, restaurants, catering and traditional retail. Angelo Capitelli remains president, and a third generation is in the business.

The cash-free, debt-free transaction values the 80% stake at €28.8 million of the €36 million enterprise value. That is about 1.3% of Italmobiliare's €2,240.5 million net asset value at 30 June 2026, or €53.3 per share excluding treasury shares.