Thursday, November 4, 2021
SA Hospitality Group announces acquisition of historic Pasticceria Sant Ambroeus in MilanPortfolio Insight
THCP is pleased to announce that SA Hospitality Group (“SAHG”), a company that THCS III is invested in, has acquired the famous Milanese brand Sant Ambroeus Milano alongside its historic restaurant in Milan’s Corso Matteotti from the Festorazzi family. The acquisition by SAHG creates a leading international group in the sector and the exclusive owner of the Sant Ambroeus brand worldwide.
Founded by Guarducci and Dimitri Pauli in 2003, SAHG has implemented a targeted growth strategy and now owns 18 restaurants, under the brands of Sant Ambroeus, Casa Lever and Felice, located in some of the most iconic locations in the US, including Manhattan, the Hamptons and Palm Beach. Each of the individual brands owned by SAHG offers a unique experience to its customers by exporting the original roots of Milanese and Tuscan cuisine as well as the rich Italian coffee tradition throughout the US.
In 2019, THCP invested in SAHG to facilitate the organic growth of the Group and the internationalisation of the Sant Ambroeus brand. The acquisition of Sant Ambroeus Milano marks an important step in this expansion plan.
Gherardo Guarducci, Executive Chairman and co-founder of the SAHG group, said: “This acquisition brings the prestigious Sant Ambroeus brand, synonymous not only with Milanese style but also with Italian excellence, into a single group spanning between the United States and Europe. Sant Ambroeus was born in Milan and is carried on by all those who work every day to confirm the uniqueness of its brand. Today, we embark on a new adventure, starting from the arcades of Corso Matteotti in Milan where everything began more than 90 years ago.”
Giulia Farinelli, CEO of SAHG, commented: “It is an honour for me to lead this new phase of a historic brand like Sant Ambroeus. With its future renovation process, we will ensure that the brand remains a landmark for the people of Milan and beyond. I am very pleased that I will be able to collaborate with such a strong team upon my return to Milan, a city which I left after studying at Bocconi.”
Mauro Moretti, Partner and Investment Committee Chair of Three Hills Capital Partners, commented: “We are very excited to see the Sant Ambroeus brand reunited under the same company; it was one of the key pillars of the business plan developed with Gherardo and the rest of the SAHG management team to bring their unique model and operating capabilities to the European market after the fantastic job they have done in North America to position Sant Ambroeus as a lifestyle proposition. This was also possible thanks to the constructive and strategic approach to the deal by Mrs Simonetta Festorazzi, who has bought into the vision of building something truly unique on a global basis.”