The Wisequity VI fund will support the Marullo family in the growth of the leading independent company in the production of semi-finished and finished pistachio-based products.

This is the fifth investment made by the Wisequity VI fund, which aims to support the company and its management team in the virtuous path of international expansion already underway.

Milan-Catania, December 15, 2025 – Wise Equity, management company of the Wisequity VI fund, and the Marullo family, majority shareholder of Marullo S.p.A., announce the signing of a binding agreement for Wisequity VI to invest in Marullo’s capital aimed at supporting its growth and consolidating its leadership.

Marullo is a leading independent producer of pistachio ingredients, semi-finished products—primarily for the industrial and artisanal gelato and pastry industries—and finished products. It has a consolidated direct presence in the main raw material supply markets. The company boasts a unique operational structure thanks to its new production facility in Belpasso (Catania), inaugurated in the summer of 2024, which has tripled production capacity while still retaining significant untapped potential. The company’s distinctive positioning is based on its ability to guarantee the highest quality products to a large customer base, including large industrial groups and large-scale retail chains, both in Italy and abroad.

The company, with headquarters in Catania, a secondary production plant in Bronte, and a pistachio sourcing and initial processing subsidiary in Turkey, closed the 2025 financial year (September-August) with a turnover of over 60 million euros, more than doubled in the last two years.

Marullo’s leadership position in a rapidly expanding sector, its extensive product portfolio—which also includes highly attractive finished products, such as spreadable creams for large-scale retail—as well as its export-oriented focus and the solidity of its management team, have led Wise Equity to invest in the project. This transaction represents the fifth investment by Wisequity VI, the fund launched by Wise Equity in May 2023 with €400 million in assets.

The transaction involves a significant capital increase, aimed at strengthening the company’s raw material purchasing capacity, and the acquisition of a majority stake by the Wisequity VI fund. This will involve significant reinvestment by the Marullo family and investment by the current CEO, Domenico Sciortino, which will ensure the company’s management continuity.

Biagio Marullo, Chairman of Marullo, stated: “We are delighted to welcome Wise Equity’s entry into the family business. We have immediately appreciated their industrial approach: we believe they are truly the ideal partner to accompany us on the extraordinary path of development and growth we expect in the coming years. Marullo is now an undisputed leader in the pistachio products market, and we are confident that, together with Wise Equity and thanks to the company’s strengthened capital structure, we will achieve even greater success than we have achieved so far.”

Davide Arrigoni, Principal at Wise Equity, and Edoardo Vaghi, Investment Manager, who oversaw the transaction with the support of Senior Partner Luigi Vagnozzi, added: “We are proud to support Biagio Marullo, his family, and the Marullo management team, whom we have had the honor of getting to know thoroughly over the past few months. We are confident that the company will continue to reap the benefits of the rich and rapidly expanding pistachio market, thanks in particular to the quality of its people, production facilities, and procurement network built over decades. The investment in Marullo fully reflects Wise Equity’s philosophy, which focuses on leading companies in specific niches with solid growth potential and an international positioning. We strongly believe in the project and are ready to support the Marullo family and management team as we continue the company’s expansion plan together.”

Wise Equity and Marullo S.p.A. were assisted in the transaction by:

  • – Advest, acting as financial advisor, as well as legal and tax advisor for the structuring of the transaction and the contractual arrangements for the sellers and Marullo, with a multidisciplinary team coordinated by partners Pietro Boiardi and Giulio Saporito;
  • – Simmons & Simmons for legal due diligence and contracts, in particular with Alessandro Bonazzi, Ida Montanaro, Martina Scottà and Alice Barlera;
  • – Studio Spada Partners for tax due diligence and transaction structuring, with Guido Sazbon, Bernardo Porcellini, and Gian Maria Bascherini;
  • – Fineurop Soditic as debt advisor, with Umberto Zanuso, Francesco Panizza, Michela Agostini, Matteo Brancaleoni and Giulio Angelini;
  • – Chiomenti with Davide D’Affronto, Cettina Merlino and Francesco Burla, and Dentons with Alessandro Fosco Fagotto and Andrea Scarfone for the contracts relating to the bank financing;
  • – The following participated in the financing of the operation: Credit Agricole Italia, with the Corporate Finance Team, Banco BPM with the Financial Sponsor team and Amundi SGR S.p.A. as asset management company of the “Amundi AgrItaly III” fund;
  • – KPMG for accounting due diligence, with Matteo Ennio, Mario Negri and Alessandro Parodi;
  • – ERM for ESG/EHS due diligence, with Giovanni Aquaro, Andrea Perna and Andrea Gardini;
  • – Cross Border in qualità di advisor finanziario, con Carlo Montenovesi.***

    Marullo

    Marullo S.p.A., based in Catania, Sicily, is a leading independent producer of pistachio ingredients, semi-finished products, and finished products. Thanks to its first-class operational and production structure, a consolidated presence in pistachio supply markets, both in Italy and abroad, and its international market positioning, it serves a large customer base, including industrial players, specialized distributors, large-scale retail chains, and artisanal producers.

    Wise Equity

    Wise Equity is a company active in the management of closed-end investment funds that invest in small and medium-sized companies with a focus on Italy. The funds managed by Wise Equity typically execute leveraged buyouts and growth capital transactions, targeting companies with leadership positions in their niche markets. Their objectives

The main objectives are to increase critical mass, including through build-up operations to improve competitiveness and profitability, and to support international development. Wise Equity currently manages three funds:

  • Wisequity IV, with €215 million subscribed, invested in eight companies, seven of which are already fully realized and one remaining;
  • Wisequity V, launched in July 2019 with €260 million in funding, invested in eight companies, two of which were realised;
  • Wisequity VI, launched in May 2023 with a total fundraising of €400 million, partially invested in five deals.