Ebro Foods to buy majority stake in Italian pasta manufacturer Bertagni
Food acquisition news : Spanish food company Ebro Foods through its subsidiaries Panzani and Pastificio Lucio Garofalo has agreed to buy a majority stake of 70% in Italian pasta manufacturer Bertagni 1882 for €130 million.
Bertagni, which is considered to be the oldest filled pasta brand in Italy and a fresh pasta manufacturer, maintains production facilities in Vicenza and Avio.
In 2017, the Italian pasta manufacturer recorded sales of over €70 million, with more than 90% of its business coming out of Italy.
According to Ebro Foods, the management of Bertagni will retain a stake of 30% in the company to ensure that it continues with its success.
Italian Pasta Penne With Wheat. Photo courtesy of KEKO64 at FreeDigitalPhotos.net.
The Spanish food company said that the acquisition in the Italian pasta manufacturer would help in speeding up its growth in the promising fresh pasta segment.
Ebro Foods also expects to become the second largest fresh pasta producer in the world as part of its strategy of bolstering its growth across all fresh food segments.
The transaction will be subject to clearance from anti-trust authorities following which it is anticipated to be completed inside Q1 2018.
It will be done by Panzani and Pastificio Lucio Garofalo on behalf of Ebro Foods.
Panzani, which is a French pasta brand, is a 100% subsidiary of Ebro Foods.
On the other hand, Pastificio Lucio Garofalo is an Italian pasta manufacturer, which owns the pasta brands Garofalo, Russo de Cicciano and Santa Lucia. Ebro Foods owns a stake of 52% in Pastificio Lucio Garofalo with the remaining stake of 48% held by the company’s founding family.
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