Savino Del Bene S.p.A.
Altios Accompanies Savino Del Bene S.p.A. Expansion in France
Language and cultural norms can be a major barrier to acquisitions. However, Altios' innovative M&A approach meant we could grow our presence in France and ensure a smooth transition of Tramar and Alpinea Shipping within our business structure and corporate culture.
In the early ‘90s, Savino Del Bene opened its first office in Paris, France, as part of the company’s international expansion that was begun in the 1950s by the founder’s son Alessandro Del Bene. The company continued to expand in France, later opening offices in Lyon and Bordeaux.
“It became evident that for us to grow our business in France, we needed to have a strong presence in the two major maritime ports, Le Havre and Marseille,” said Gianni Bachini, Savino Del Bene’s Managing Director of Spain, Portugal, and France.
“We knew the fastest approach to expansion in the French marketplace would be through acquisition.” But to do so would mean finding the right partner and, just as importantly, meeting complex French legal requirements. “We needed to think the French way,” commented Mr. Bachini.
- After successfully acquiring Alpinea Shipping in October 2021, Savino Del Bene sought Altios Corporate Finance‘s help again to further its expansion in France and Europe.
- The Altios team began the second M&A project for Savino Del Bene by conducting a complete market analysis and shortlisting potential acquisition candidates.
- Following the initial successful introduction meeting, Altios led the next steps in the M&A project.
By the end of 2021, Savino Del Bene had grown its revenue in the French market by more than €50 million through the two successful acquisitions. “By bringing Tramar and Alpinea Shipping within our family, we could expand our European network and footprint throughout France and strategic maritime ports,” said Mr. Bachini.
- Throughout the two acquisitions, Altios developed a close working relationship with the team at Savino Del Bene. This strong partnership approach ensured all parties in the M&A process were part of the process.
- “Language and cultural norms can be a major barrier to acquisitions. However, Altios’ innovative M&A approach meant we could grow our presence in France and ensure a smooth Tramar and Alpinea Shipping transition within our business structure and corporate culture,” commented Mr. Bachini.
Want to know more about Savino Del Bene’s experience and its international development?
Founded in 1899
Headquarters in Florence, Italy
International shipping and logistics support services
Operating in more than 60 countries
5,300 employees across 306 offices
Annual revenue €4.5 billion