Italian confectionery company Industria Dolciaria Borsari (IDB) has acquired peer La Torinese for an undisclosed amount.
Discussion about the merger has been around since 2018, but only now has a Turin Court given its final go-ahead.
In taking over the business, IDB will maintain all La Torinese activities and retain the company's 40 employees.
Festive Cake Production
La Torinese has been producing artisanal leavened festive cakes, such as Panettone, Pandorato and Piemunteis, since 1932. Over the years, the Turin-based company has managed to make inroads into international markets, initially in countries with a large Italian presence.
The takeover of La Torinese is a major investment for IDB, which is a leading group in the premium recurring cake segment in Italy, it said.
IDB boasts an annual turnover of €50 million and produces over 150 specialities and iconic products such as Anatra all'Arancia, Albero di Natale and Cuor di Pandoro.
Award Winner
In 2020, as part of a limited edition production run, it was awarded the prize for the Best Classic Artisan Panettone by a Federazione Internazionale Pasticceria Gelateria e Cioccolateria (FIPGC) jury.
With the acquisition of La Torinese, IDB will have eight historic brands (Tommaso Muzzi, Borsari, Antica Pasticceria Muzzi, Giovanni Cova & C. Scar Pier, Torronificio Bedetti and Golfetti) in its portflio.
It also now operates three production sites in Italy (Falconara, Badia Polesine and Turin) and five shops.
© 2021 European Supermarket Magazine. Article by Branislav Pekic. For more A-Brands news, click here. Click subscribe to sign up to ESM: European Supermarket Magazine.
