Nestlé Italiana has signed a preliminary agreement with Pastificio Rana for the sale of its pasta production plant in Moretta.
The company says that the acquisition concerns all the assets of the plant, and will guarantee the continued employment of its 190 staff members.
The plant, located in Italy’s Piedmont region, covers an area of 25,000 square metres and currently produces fresh stuffed pasta and sauces under the group's Buitoni brand.
As part of the agreement, Pastificio Rana will now distribute and market Buitoni's fresh pasta sauces throughout Europe, the Middle East and North Africa.
However, in Italy and Spain these products will continue to be distributed and marketed directly by Nestlé, and the Butioni brand will still be owned by Nestlé.
Pasta Expansion
"We are very satisfied with the agreement reached with Pastificio Rana, a leading producer of food excellence in our country," said Leo Wencel, head of the Nestlé Group in Italy.
"The commercial partnership with Rana will allow Buitoni to seize growth opportunities abroad, while ensuring development and continuity of employment at the Moretta site."
According to the CEO of Pastificio Rana, Gian Luca Rana, the deal will allow the company to expand its production capacity and increase volumes in response to growing consumer demand.
Pastificio Rana currently operates six factories and is present in 38 countries. The company is expected to end 2017 with a turnover of over €600 million, more than 60% of which is achieved abroad.
© 2017 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
