Italian dairy group Granarolo has taken full ownership of its British distributor Granarolo UK, according to Reuters.
Granarolo UK was established in 2013 to export Italian cheese to the UK and Ireland and posted sales worth €60 million for 2020. Granarolo has now acquired the 49% stake in the business that it didn’t already own in an effort to strengthen its footprint in Britain.
Granarolo produces a range of products, including cheese, yogurt and milk, and accounts for more than 10% of all the dairy products Italian food producers sell in Britain, according to Reuters.
The Italian food group has said that it is looking at more acquisitions this year.
“The consolidation of Granarolo UK is an important step in the group’s growth policy abroad,” said Granarolo chairman, Gianpiero Calzolari, in a statement cited by Reuters.
He added: “During the year we aim to acquire other companies in Italy, Europe and overseas.”
© FoodBev Media Ltd 2021
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