German confectionery company Katjes International has bought Paluani, an Italian producer of panettone and pandoro, out of bankruptcy.
The deal was made through Katjes’ Italian subsidiary, Sperlari.
Paluani, which was the fourth largest panettone maker in Italy, reported its revenue in the fiscal year 2021 as around €40 million. However, the company had to file for bankruptcy in October 2021.
“We are excited to be able to acquire such a traditional and well-known brand across Italy like Paluani, allowing us to further strengthen our leading market position in the Christmas season,” said Tobias Bachmüller, managing shareholder of Katjes.
Terms of the transaction were not disclosed.
© FoodBev Media Ltd 2022
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