Acqua & Sapone is Italy’s leading non-food value retailer, specialising in branded home and personal care products. Established in 1992, the company operates more than 830 stores nationwide and is one of the country’s most recognised retail brands, valued for its price leadership, convenience and broad product range.
Initial investment
2024
Sector
Retail
Initial transaction size
€1.8bn
TDR has been a frequent investor in the European value retail segment recognising its resilience through economic cycles and limited exposure to online disruption. In addition, the TDR data science team has developed a set of tools which can be applied to help drive growth at value retailers as well as assist with targeted store roll-out.
Acqua & Sapone stood out as the clear market leader in Italy with high brand recognition, strong store economics and a growing market share within the home and personal care category.
The recent consolidation of five previously independent regional operators into one national platform also presented significant scope to realise synergies and further strengthen the operations.
Following the acquisition, we worked with management to add resource to the senior leadership team to support in the acceleration of the value creation plan.
Integration of the previously independent regional entities is well under way, with an immediate focus on improving the logistics network to create a unified operating platform.
A key focus has been putting in place the tools of a “modern” retailer, establishing an in-house data science team and implementing data science initiatives to drive top-line growth.
The new store opening programme has been accelerated, informed by data-driven site analysis, with M&A opportunities also being pursued to expand the regional footprint across Italy.