Spanish food processing company Ebro has bought a majority stake in Italian fresh pasta manufacturer Bertagni 1882 in a deal worth €130 million ($159 million).
Ebro carried out the deal to buy 70% of Bertagni through its 100% subsidiary Panzani and Pastificio Lucio Garofalo – which it owns a majority share in.
The Italian manufacturer has plants Vicenza and Avio and a workforce of 275 employees. It is one of the oldest brands of filled pasta in Italy and specialises in premium pasta. Its sales in 2017 were over €70 million, with over 90% of its business outside Italy.
In order to ensure the continuity of the success of the company, current shareholders and managers Antonio Marchetti and Enrico Bolla will retain 30% of the capital share of Bertagni.
In a statement, Ebro said: “Ebro considers this acquisition as a great opportunity to accelerate its growth in the promising fresh segment and become the second-largest producer of fresh pasta in the world, within Ebro’s strategy of consolidating its growing in all segments of fresh food.”
Following approval from the authorities, it is expected the deal will be concluded in the first quarter of 2018.
© FoodBev Media Ltd 2018