Gelato firm Sammontana Italia is planning to use new financing to boost international growth, as well as build its standing among millennial shoppers.
In an interview for Il Sole 24 Ore Radiocor, CEO Leonardo Bagnoli explained that the brand is not focusing on certain countries in particular, but has identified millennials a target consumer base.
He pointed out that the company is witnessing a recovery in consumption in its target markets, and has put in a solid performance in the large-scale retail sector, where it has a 16% market share in volume, up 1% compared to 2019.
According to Bagnoli, Sammontana will continue to focus on its core ice cream and pastry business in the post-COVID period, both in Italy and key international markets such as Austria, Switzerland and China, where it recently opened a branch in Shanghai.
Planned Investments
Last month, Sammontana obtained an €10 million loan from Cassa Depositi e Prestiti (CDP) to support the completion of investments aimed at the growth of the Group.
The Empoli-based company closed 2019 with a consolidated turnover of €400 million, while in 2020 it expects a 12% decline, due to the long lockdown period, which has hit out-of-home consumption.
In Italy, Sammontana is present both with its own brands (Sammontana, Tre Marie, Il Pasticcere and Bonchef), licensed brands (Ringo, Pan di Stelle), and a range of private label products.
The company's range of frozen foods is completed by savoury products (bread, focaccia, ready meals) under the BonChef brand.
© 2020 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
