Italian dairy company Granarolo has acquired a 24% stake in Venchiaredo, a company specialising in the production of Stracchino cheese.
Granarolo purchased the stake from Emmi Holding Italia, the Italian branch of the Swiss dairy group.
Based in Ramesto di Sesto al Reghena near Pordenone, Venchiaredo achieved sales of €24.1 million in 2016. About 70% of the turnover comes from customers in the retail and discount sectors, while the remaining 30% is from other industrial players.
Commenting on the deal, Gianpiero Calzolari, president of Granarolo, said that the company has acquired a 'strategic and complementary asset', as Venchiaredo is the third largest producer of stracchino in Italy and the leading producer for private label.
As part of its growth strategy, Granarolo says that it is continuing on a high-value acquisition path, and diversifying products and geographical areas. In May, the company acquired 50% of leading Greek dairy distributor Quality Brands International, while in March it acquired 60% of Brazilian importer of European foods, Allfood.
© 2017 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.