The Ferrero Group has acquired Italian frozen bakery firm Fresystem for an undisclosed amount.
Fresystem, founded in 1983 and acquired by the Simioli family in 1991, closed its most recent financial year (2021) with a turnover of €60 million.
The company operates through its production hub in Caivano (Naples), from where it produces and distributes Cupiello branded products and operates as a contract manufacturer.
Loose Bakery Products
Fresystem produces loose bakery products for bars (brioche, muffins, sfogliatelle) under the Cupiello brand and also for large retailers and other commercial chains.
The company has been working alongside Ferrero for a number of years, for which it already produces Nutella muffins. These can be found in large chains such as Autogrill and McDonald's.
The acquisition is part of Ferrero's strategic growth path in the high-potential segment of sweet out-of-home.
It also helps to consolidate Ferrero's position in Italy, which remains a strategic hub for the business both in terms of production and market penetration.
Second Production Hub
The Caivano plant becomes Ferrero's second production hub in Campania and joins the group's existing plant in Sant'Angelo dei Lombardi in the province of Avellino.
The transaction, subject to customary closing conditions, is expected to close in the coming months, Ferrero said in a statement.
The Italian frozen bakery products is a market worth over €500 million, with the majority of sales taking place in cafés, restaurants, forecourts and large supermarket chains.
© 2023 European Supermarket Magazine – your source for the latest A-brands news. Article by Branislav Pekic. Click subscribe to sign up to ESM: European Supermarket Magazine.