Highland Corporate acted as sole adviser on the sale of Creaciones Arppe to the Italian company Croci SpA.

INDUSTRIAL TRANSACTION
We advised Creaciones Arppe on its 100% sale to Croci, an Italian multinational group and a leader in the pet accessories and food sector.
Highland Corporate has acted as exclusive advisor to Creaciones Arppe
2022
ADVISORS

Croci SpA was assisted by Pavia and Ansaldo for legal matters and by KPMG for financial, tax, and environmental due diligence. Arppe was assisted by Spanish advisor Highland Corporate.

Highland Corporate acted as sole adviser on the sale of Creaciones Arppe to the Italian company Croci SpA.

BACKGROUND

Arppe Creations: With over 40 years of history, Arppe operates in a modern factory of over 7,000 square meters where it produces part of its extensive product portfolio (leads and comfort products such as kennels and cushions). The catalog also includes medication, snacks, and fashion items, developed by the company and purchased from external suppliers. It has a long-standing presence in major Spanish specialty chains, where it sells over 90% of its products under its own brand.

Croci SPA: Founded some 30 years ago by entrepreneur Dario Croci, it has successfully transformed its business model, moving from a distributor to a multi-brand company (Croci, Amtra, and Bobby brands). The Group focuses more on developing and creating a wide range of pet accessories with great innovation, sustainability, and design.

With a turnover in 2022 exceeding 60 million euros and with Mindful Capital Partners (“MCP”) as the majority shareholder (in December 2021, the private equity fund MCP III acquired 70% of the company, with the aim of accelerating its growth in international markets), it has acquired 100% of the Spanish company Creaciones Arppe.

TRANSACTION

This transaction represents a further step in Croci’s internationalization process, which already has a consolidated presence in the German market with Amtra, in the French market with the acquisition of Canifrance, and in China through a locally established subsidiary to develop the promising Asian market.

“This transaction in the Spanish market represents a very important step for Croci from a strategic and industrial perspective. This is because, on the one hand, it allows us to continue growing in international markets through our own direct subsidiary in the region, and on the other hand, because we have initiated a significant change in our business model by opening our doors to the world. Our production model, as the Spanish company also owns a manufacturing plant, is changing. Our future strategy aims to have an increasingly vertical structure,” says Dario Croci, CEO of Croci Group.

“The acquisition of Arppe confirms the Group’s ability to grow in international markets through investments that guarantee a direct presence in strategic markets,” says Andrea Tuccio, Managing Partner of Mindful Capital Partners.

“We are very satisfied with the transaction we have just signed. We would like to thank Highland Corporate for all the clear explanations you have provided us at every stage of the process. After two years of work culminating today, a very exciting future opens up for what has been our beloved company until now, and although we no longer have the strength to continue, Croci is sure to achieve magnificent results in the coming years by continuing the business. Of all the candidates we negotiated with, Croci was able to fully understand our personal situation, and that has been essential to the success of the transaction. Thank you very much for your work, dedication, and understanding.” Esther, Cristina, Juan (owners of Arppe Creations).