Charterhouse Capital Partners announces agreement to sell Casa Optima to Terlos LLP and co-investors

May 27, 2025

Charterhouse Capital Partners (“Charterhouse”), one of the longest-established private equity firms operating in Europe, today announces that it has entered into an agreement to sell Casa Optima, a leading global player in the artisanal gelato and pastry ingredients market, to a group of investors led by Terlos LLP (“Terlos”). Terlos is a private investment firm with a focus on European consumer brands, which has Javier Ferrán, the company’s current chairman, and a wholly owned subsidiary of the Abu Dhabi Investment Authority ("ADIA") as exclusive limited partners.

Founded in 1984 and headquartered in Rimini, Northern Italy, Casa Optima serves over 30,000 gelato shops and 6,000 pastry shops in over 150 countries worldwide. The company has a comprehensive portfolio of premium ingredients for artisanal gelato, pastry and beverages, developed in state-of-the-art manufacturing facilities in Italy and Brazil.

In partnership with Charterhouse since 2016, Casa Optima has pursued a transformational growth journey to expand and professionalise its offering, moving from a local leader to a global market leading business.  This has included widening its product offering through organic and inorganic growth opportunities, notably the strategic acquisitions of Modecor, Giuso, Pernigotti Maestri Gelatieri Italiani and Blend, and accelerating innovation through investment in R&D.  During that time, Casa Optima has also significantly strengthened its management team, with the appointments of Francesco Fattori as CEO and Javier Ferrán as Chairman.

Today’s announcement caps an active period of transactions for Charterhouse having recently announced the sale of minority stakes in Novétude Group, a new European healthcare education platform, to Peugeot Invest and Hayfin Capital, and the acquisition of a majority stake in ESTYA, a leading French services provider specialising in electronic fire safety and security systems, from Chequers Capital.

Antonio di Lorenzo, Partner at Charterhouse Capital Partners, said: “We are proud to have supported the talented management team, including Francesco and Javier, through Casa Optima’s transformational growth journey into an international market leader. The company is exceptionally positioned for future growth, and we have no doubt that Javier and his team, with their consumer expertise and existing knowledge of Casa Optima, will do an excellent job supporting the company going forward.” 

Javier Ferrán, Managing Partner of Terlos LLP and Chairman of Casa Optima, commented: "Since joining the Board, I have been greatly impressed by the strength of Casa Optima and the caliber of its management team, as well as the scale and quality of the strategic opportunities that lie ahead for the business. We look forward to continuing our collaboration with Francesco and the wider team to further build on the leadership position and strong foundations the business has established in recent years under the stewardship of Charterhouse.”

Francesco Fattori, CEO of Casa Optima, added: “Thanks to Charterhouse’s continuous support, over the last few years Casa Optima has been able to consistently deliver solid top and bottom-line growth on the back of strong internationalisation plans, the completion of multiple strategic acquisitions and the development of successful brands and products. We are very excited to continue to work with Javier, alongside Terlos, as we continue to pursue our strategic organic and inorganic growth plans.”

The transaction is subject to customary regulatory approvals and would be expected to close by Q1 2026.