Portobello sells Italy's Farmol to Germany's Dalli in €200M deal
What's the deal? Spanish private equity firm Portobello CapitalDealroom has a profile for this one. Try Dealroom → has agreed to sell Farmol, an Italian maker of personal-care and household aerosols, to Germany's Dalli Group. The transaction values the company at close to €200 million, according to market sources.
Why now? Portobello hired Mediobanca in April last year to prepare the sale. The deal marks the firm's first exit in Italy.
The numbers: Farmol posts around €21 million in EBITDA and roughly €250 million in annual revenue — more than double its level five years ago. The €200 million price tag represents a return of about two times for Portobello, which acquired the business in 2021.
What each side does: Farmol develops and manufactures hair spray, deodorants, and household cleaners for third parties, counting Henkel and Colgate-PalmoliveDealroom has a profile for this one. Try Dealroom → among its clients. Dalli, a family-owned group with about 180 years of history and run by its seventh generation, makes detergents, cleaning products, cosmetics, and fragrances under both its own and third-party brands.
The structure: Portobello owns 99% of Farmol through its Fund IV and a €150 million co-investment vehicle raised in 2021.
What could go wrong? The sale is conditional on obtaining the required competition clearances.
The signal: The deal shows Portobello extending its reach beyond Spain, marking a clean exit on its first Italian bet while a long-established German family group deepens its private-label manufacturing footprint.
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