Italian confectionery and cake company Melegatti has managed to attract a new partner in time for its Easter production campaign, reports Avvenire.
Verona-based confectionery company Dal Colle has agreed to a 30% stake in Melegatti, which was recently saved from bankruptcy by Malta-based investment fund Abalone Asset Management Limited.
In November, the fund invested €6 million to re-launch Melegatti's Christmas cake production. During the festive campaign, the company produced 1.57 million panettone and pandoro cakes, with sales boosted by a social network campaign promoted by the workers themselves.
Restructuring
Sergio Perosa has been appointed as the company's new general manager, while Carlo Gianani has joined as chief restructuring officer, and will have to deal with the corporate restructuring of the plant in San Giovanni Lupatoto.
Melegatti has accumulated debts of around €27.5 million, with €12 million owed to suppliers and €10.5 million to banks.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine
