Eataly reportedly aiming for an IPO in 2018

Italian food hall chain Eataly is making plans for a 2018 initial public offering in its home country, according to a report this week in Financial Times.

The company plans to list shares on the Italian stock exchange in Milan “as early as next year,” Eataly Executive Chairman Andrea Guerra told Financial Times.

Eataly is eager to expand the presence of its massive Italian food emporiums in the U.S., which have helped spur the growing food hall trend. The company has five locations here, with two in New York City and one each in Chicago, Los Angeles and Boston. Financial Times said that Eataly's U.S. sales have doubled following the expansion.

The chain is on pace to generate 470 million euros in sales this year, which would be an increase of nearly 24% over 2016.

Guerra told Financial Times that Eataly can open stores for the next 10 years. “We think we can have a store in every world capital,” he said.

Eataly did not respond to a request for comment on Tuesday.

This isn’t the first time that Eataly has indicated plans to go public. In 2016, the Italian merchant bank Tamburi Investment Partners, which owns a stake in Eataly, indicated that it planned to take the chain public in 2017.

Reports of a possible Eataly IPO come as one of the chain’s partners, the well-known chef Mario Batali, recently stepped down from his fine-dining empire, Batali & Bastianich Hospitality Group, following sexual harassment allegations. Batali is a partner with Joe and Lidia Bastianich, who are also Eataly partners.

Oscar Farinetti founded and created Eataly, opening the first 30,000-square-foot location in Torino, Italy, in 2007. The company opened its first location in the U.S. in New York City in 2010.

The locations have become food theme parks, where customers can watch chefs stretch mozzarella or buy meat, cheese or squid ink pasta from one of numerous retail establishments. Eataly locations also have numerous restaurants and bars. Chicago’s location is 63,000 square feet and has 21 retail departments and 23 restaurants.

More From FoodService Director

Industry News & Opinion

A new law in Washington will expand Breakfast After the Bell programs throughout the state, the Daily Fly reports.

Signed into law on Wednesday by Gov. Jay Inslee, HB 1508 requires that schools in which at least 70% of students qualify for free or reduced-price meals offer Breakfast After the Bell by the time the 2019-2020 school year begins.

The food offered at breakfast must meet federal nutrition standards and can’t be made up of more than 25% added sugar. Schools must also give preference to food that is fresh and grown in the state.

The breakfast period can...

Industry News & Opinion

The University of Southern California in Los Angeles will begin offering fresh kosher meals three times a week at its USC Village Dining Hall, the Daily Trojan reports.

The meals will be delivered to the dining hall every Tuesday, Wednesday and Thursday evening by a local kosher butcher beginning March 20. The butcher will also deliver sandwiches, salads and other kosher items to a marketplace on campus.

Around 15 Orthodox students who are on meal plans will be able to enjoy the meals, according to the Daily Trojan. Students can receive their meals at the cashier’s desk in...

Sponsored Content
fish tacos

From High Liner Foods.

Younger consumers are driving an increased focus on sustainability, and more consumers overall are demanding a wider variety of seafood on menus. With shifting interest in seafood, operators need to be familiar with the seafood consumer—who they are, what they’re looking for and when they eat it—to more effectively boost interest in seafood dishes.

Understand consumer habits

Technomic’s 2017 Center of the Plate: Seafood & Vegetarian report finds that 65% of consumers eat seafood at least occasionally (once every 90 days or more), either as an...

Industry News & Opinion

The Missouri House of Representatives has initially approved a bill that would enable students with dietary issues to forgo mandatory meal plans at public colleges and universities, U.S. News reports.

Approved Tuesday, the bill would grant students with medical documentation of food sensitivities, food allergies or medical dietary issues the right to opt out of meal plans.

Supporters of the bill say it will allow students to not have to pay for food they can’t safely eat, while opponents say that the bill will negatively impact schools financially. According to legislative...

FSD Resources