Food processing and retail company Associated British Foods has announced that it is acquiring Acetum Spa, one of the leading Italian producers of Aceto Balsamico di Modena (Balsamic vinegar of Modena).
Cesare Mazzetti and Marco Bombarda will remain in the company as president and business director, respectively.
Acetum, which includes the Mazzetti, Acetum and Fini brands, produces balsamic vinegar, as well as a range of apple vinegars and other condiments. In addition, it generated sales of around €103 million in more than 60 countries in 2016.
“We have ambitious plans to grow these brands and the acquisition will broaden our international presence in speciality foods,” said George Weston, chief executive of Associated British Foods.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Francesca Volpe. Sign-up for a subscription to ESM: The European Supermarket Magazine.