French agro-industrial group Avril has acquired a majority stake in Italian food manufacturer Eccellenza Italiana for an undisclosed sum.
Founded in 2014, Eccellenza Italiana sells 100% natural sauces, pastas, spreads and olive oil. With the investment, Avril aims to strengthen its position in the consumer goods market and expand its portfolio in France and internationally.
The acquisition is also expected to enable Eccellenza Italiana to accelerate its international development. The Italian company sells its products under three complementary brands: Italians Do It Better, for mainstream retailers; Al Dente Al Salsa, for products sold through speciality stores; and the Il Biologico Italiano brand, which is sold through organic wholesalers.
Jean-Philippe Puig, CEO of Avril, said: “We intend to preserve the full creativity of Eccellenza Italiana, which has been the source of its success, while providing it with the means to enter a new phase of its development, thanks to the support of the group and our in-depth knowledge of the markets. This will further strengthen our positions in the consumer goods sector, in line with the group’s strategic priorities, while remaining true to our commitments and our purpose, ‘Serving the Earth’.”
Christian de Waldner and Patrizio Miceli, co-founders of Eccellenza Italiana, added: “Our ambition is to become the market leader in hot sauces within an accessible premium positioning in France and then internationally, in addition to developing new categories of products. Avril’s muscle and expertise in the savoury food market will give a powerful boost to the development of our brands. Our shared ambition and common values as activists for healthier food while preserving our planet are in line with our strategic vision.”
© FoodBev Media Ltd 2022
World Beverage Innovation Awards – NOW OPEN FOR ENTRIES!
The awards celebrate excellence and innovation across the global beverage industry.
Don’t miss out on having your innovations recognised on a global scale.
Deadline for entries 23 July – enter now!
Don’t get left behind
Start your free Foodbev magazine trial today and join thousands of fellow industry professionals in receiving food and drink trends direct to our business.
Click here to start your free trial