Aksìa and PX3 Partners said on 11 November 2026 they had completed a joint-control investment in Valsa Group, an Italian producer of premium fresh pizza, focaccia, pinsa and panzerotti with revenue of nearly €200m.
Why Aksìa SGR (Aksìa CF I continuation fund and Aksìa Capital VI) and PX3 Partners (PX3 Fund I) is buying Valsa Group
The investors plan to accelerate Valsa's international expansion, including in the US, add customers, expand capacity and pursue further acquisitions.
Deal terms and financing
The investment was made through Aksìa CF I, a single-asset continuation fund of nearly €200m led by Belnord Capital, Aksìa Capital VI and PX3 Fund I, with management reinvesting. Debt financing was led by Pemberton. Financial terms were not disclosed.
Market context
Valsa was built through a buy-and-build strategy that began with Aksìa Capital V's purchase of Valpizza in 2020, followed by six add-on acquisitions.
