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Cleveland private equity firm The Riverside Co. has acquired La Galvanina S.p.A, a fourth generation, family-owned, Italian producer of premium private label and branded mineral water and traditional and organic soft drinks.

Galvanina sells its products to a global customer base comprised of leading retailers, department stores and wholesalers in more than 35 countries, with the U.S., Italy and Canada representing its largest markets in 2018.

“We are grateful for the trust of the Mini family in choosing Riverside for this investment. Galvanina has an impressive range of innovative, high-quality products with a fantastic heritage and an enviable market position,” said Riverside Managing Partner Karsten Langer. “During our partnership, we plan to help transition a family-run business to an elevated global company, while maintaining Galvanina’s authenticity, quality, innovation, creativity and customer-oriented culture.”

“Galvanina has a large and long-lasting portfolio of blue-chip customers, comprised of top retailers in North America and globally,” said Riverside Partner Rafael Álvarez-Nóvoa. “With new capacity recently installed, we look forward to expanding the business with new product offerings to reach an even larger market.”

Working with Langer and Álvarez-Nóvoa on the deal were Senior Operating Partner Fabio Pesiri, Senior Associate Michele Volpe and Tomasz Glowacki as Originator. Goldman Sachs Private Capital provided financing for the transaction.

A&O acted as legal adviser, and EY served as financial and tax DD provider and debt adviser for Riverside. Additionally, Alix Partners advised Riverside as a commercial and operational due diligence provider.

Advising the Mini Family was BLF Studio Legale, acting as legal adviser, Miranda Pironi as corporate, tax and accounting adviser and PWC acted as financial adviser.