©Lotus Bakeries Corporate
Lotus Bakeries has taken full ownership of its Italian marketing joint venture, Lotus Bakeries Italia, after acquiring the remaining shares in the company.
The Belgium-headquartered biscuit maker established the joint venture in 2019 with its Italian distribution partner, Lona, to focus exclusively on marketing Lotus Bakeries brands in the country.
From the outset, Lotus Bakeries owned a majority stake in the business, with an option to ultimately purchase all of the shares.
Following the acquisition, Lotus Bakeries’ team is aiming to further strengthen the company’s position in the Italian market.
“With the acquisition of full control over our entity in Italy, we’re taking our next step in this major consumer market,” said Lotus Bakeries CEO, Jan Boone.
“With the necessary focus and support from the rest of the Group, a team of Lotus Bakeries employees based in our own office in Milan will be able to take the next steps to increase market penetration in this country.”
Lotus Bakeries will continue to collaborate with Lona, in particular on warehousing and distribution.
© FoodBev Media Ltd 2020
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