Italian food company Barilla has submitted a binding offer to buy a pasta plant operated by rival Pasta Zara, reports Corriere della Sera.
The Muggia plant has a production capacity of around 280,000 tons of pasta per year, and according to Barilla, 'is well located to serve European and overseas markets. [It will] allow Barilla to respond in an efficient way to a rising global demand for pasta'.
The company has clarified that the deal 'does not include the Pasta Zara brand or other brands or production plants'.
The production facilities in Riese Pio X, near Treviso, and Rovato in Brescia, will remain under the ownership of Pasta Zara owners - the Bragagnolo family.
The Best Solution
Pasta Zara stated that Barilla’s offer was the best solution for the group, its employees and creditors.
The sale will allow the company to present an industrial plan for relaunching its activities to the Court of Treviso, thus avoiding bankruptcy.
New Product Launch
Meanwhile, Barilla is to launch a new hazelnut cream next year, according to another report in the Corriere della Sera.
The new product, which is expected to challenge Ferrero’s Nutella, will feature a low sugar content and be free of palm oil.
© 2018 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.