Pan-European private equity firm Argos Wityu has purchased Italian dry-bakery company Monviso from private equity firm Cerea Partners and private investor Capza, according to media reports.
Based in Northern Italy and boasting close to 90 years of history, Monviso is a leading producer of premium, healthy dry bakery goods. The company specialises in rusks, biscuits, and bread alternatives.
The company manufactures for private labels and other companies, as well as offering its own Monviso brand, the third largest rusk brand in Italy.
Monviso emphasises innovation and health-conscious products, including organic, gluten-free, and palm oil-free options.
Monviso's growth, fuelled by acquisitions like Biscotteria Tonon (2015) and Grissinificio Europa (2018), has created a diverse product portfolio catering to evolving customer demands.
Under Cerea Partners and Capza's ownership, the company expanded its product lines and distribution channels, achieving consistent growth.
Operating five production facilities in Northern Italy with over 160 employees, Monviso expects €60 million in revenue for 2024.
Argos Wityu
Argos Wityu will partner with Monviso's CEO, Manfredi Cusmano, to build the company into one of the leading premium dry bakery providers.
It will focus on offering a comprehensive product range to retailers, co-manufacturers, and industrial clients, emphasising innovation.
Francesco Pugliese, the former CEO of Conad and Barilla executive, will join as chairperson, bringing extensive food industry expertise to guide Monviso's future growth.
Kartesia Management led the financing for the Monviso acquisition, with participation from Eurizon Capital Real Asset SGR. BNL and Banca Sella provided revolving credit facilities.
Argos Wityu aims to build a dominant player in the premium dry bakery sector by offering a comprehensive product range and acting as a single-source supplier.
Manfredi Cusmano, CEO of Monviso, commented, “We are excited to embark in this new chapter with Argos Wityu. This partnership will enable us to further strengthen our leadership in the premium bakery market and continue innovating to meet the evolving needs of our customers. We are ready to embrace the opportunities that lie ahead.”
