Alice Pizza

Who owns Alice Pizza?

Alice Pizza is currently owned by Quadrivio Group through Made in Italy Fund II (2023 vintage), since 2026. Across its history, Alice Pizza has been through 2 private equity ownership periods, detailed in the timeline below.

Hand-verified · updated 2026-07-21

About Alice Pizza

Alice Pizza is a Rome-based Italian food and hospitality company that operates and franchises pizzerias specializing in pizza al taglio, the by-the-slice format sold by weight, alongside delivery, click-and-collect and takeaway. Trading as Alice Pizza S.p.A., it has grown into what it describes as Italy's largest pizza-by-the-slice chain, with more than 200 pizzerias worldwide, roughly 1,650 team members and a menu spanning around 70 pizza varieties. The network mixes directly managed outlets with franchised units, and in 2023 the company reported about 182 stores, split between roughly 87 directly operated and 95 franchised locations. According to company and press disclosures, Alice Pizza recorded over EUR 120 million in revenue in 2024, up about 10 percent on the prior year, positioning it as a scaled fast-casual operator in the Italian and, increasingly, international food-service market.

Ownership journey

Alice Pizza traces its origins to 1989, when pizza maker Domenico Giovannini opened a shop on Via delle Grazie in Rome, near the Vatican, later registering the trademark in 2002 and opening its first franchised pizzeria in 2012. In 2019 the IDeA Taste of Italy fund, managed by DeA Capital Alternative Funds, invested in the business, taking a majority position of roughly 70 percent while the founding Giovannini family retained about 30 percent of the share capital. That holding was exited in 2026 via a secondary transaction, at which point the fund had passed to a successor manager following a change of control at the fund manager. From 2026 the company has been backed by the Made in Italy Fund II, managed by Quadrivio Group, which is the active sponsor going forward, with the transaction financed by a pool of banks.

Under PE ownership

The IDeA Taste of Italy investment from 2019 supported Alice Pizza's transition from a founder-led Roman brand into a nationally scaled, franchise-driven chain, professionalizing its operating model around the Accademia della Pizza training school and a dual model of directly managed and franchised outlets. Over the ownership period the network expanded beyond its Lazio and Emilia-Romagna base toward more than 200 pizzerias, and the company pushed into shopping centres, the travel-retail channel and international markets. Revenue reached over EUR 120 million in 2024, growing about 10 percent year on year, and the group set out plans for further openings in Italy and expansion in Europe and Asia. Under the subsequent Made in Italy Fund II backing from 2026, the company is positioned for continued international growth.