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Leisure & Hospitality

Capdesia Group and Lifestyle Fund II have acquired Alice Pizza S.p.A.

Date
June 2026
Transaction Type
Private Equity acquisition
Value
Undisclosed
Acquired by
Company brand product
Company brand product
Company brand product
Company brand product
Company brand product
Back to transactions
Leisure & Hospitality

Capdesia Group and Lifestyle Fund II have acquired Alice Pizza S.p.A.

Date
June 2026
Transaction Type
Private Equity acquisition
Value
Undisclosed
Acquired by
Company brand product
Company brand product
Company brand product
Company brand product
Company brand product

Transaction
Overview

Spayne Lindsay & Co. is delighted to announce they have advised Capdesia Group, the European investment firm focused exclusively on the branded consumer foodservice sector, and Lifestyle Fund II, the private equity fund managed by Quadrivio & Pambianco, on the acquisition, alongside a group of co-investors, of Alice Pizza S.p.A., Italy's largest fast-casual pizza chain, from the Taste of Italy fund managed by Green Arrow Capital and the founding Giovannini family.

Founded in Rome in 1989 by the Giovannini family, Alice Pizza is Italy's largest fast-casual pizza chain, operating more than 200 locations across Italy and internationally. Built around its signature "pizza al taglio" format, Alice Pizza combines authentic product quality, speed of service and an accessible price point – a distinctive proposition that has driven consistent growth and strong brand recognition across both directly operated and franchised locations.

 

Operating in a large and growing fast-casual market, Alice Pizza is well positioned to accelerate its expansion both in Italy and internationally. Capdesia and Quadrivio & Pambianco will support the company's growth ambitions, leveraging their deep food service expertise and experience in scaling category-leading consumer brands.

 

Capdesia is an investment firm based in London and Brussels, focused exclusively on the branded consumer foodservice sector. Capdesia provides creative capital and unparalleled industry expertise to expansion-stage QSR, fast casual and casual dining restaurant chains across Europe, and its portfolio includes some of the most recognised names in the sector, such as GAIL's, Wasabi and Franco Manca.

 

Lifestyle Fund II is Quadrivio & Pambianco's second private equity vehicle, investing in lifestyle and Italian excellence across the fashion & accessories, design & furniture, beauty & wellbeing and food & beverage sectors, targeting high-potential companies with strong prospects for international expansion.

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