Spanish food company Ebro has announced that it is set to acquire a 70% stake in Italian pasta firm Bertagni for €130 million.
Bertagni produces a range of filled pasta products at its plants in Vicenza and Alvio, and achieved gross sales of more than €70 million in 2017, with more than 90% of its business generated outside of Italy.
These products will be added to Ebro's existing portfolio, which includes more than 60 brands of rice, pasta, and sauces.
Ebro says that the acquisition will provide "a great opportunity to accelerate growth in the promising segment of fresh pasta", and will allow the group to become the second largest producer of fresh pasta in the world.
The deal is expected to be completed in the first quarter of the year, subject to approval from competition authorities.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.
