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A-Brands

JP Morgan Agrees To Acquire Italian Chocolate Brand Pernigotti

Italian chocolate brand Pernigotti has been acquired by JP Morgan Asset Management for an undisclosed sum, according to media reports.

A definite sale and purchase agreement has been signed with Turkey’s Toksöz Group, owner of Pernigotti, for the sale of its entire share package and the Novi Ligure factory.

In 2018, Pernigotti decided to cease production at the production facility, ending a tradition that goes back to 1860.

The plan is to reopen the Novi Ligure factory as soon as possible in order to be running in time for the Christmas season.

The iconic Pernigotti-branded products, namely hazelnut cream, white nougat, and gianduiotti, have been largely absent from the shelves of Italian retailers for about a year.

The transaction, subject to certain conditions, is expected to close on 30 September

Future Of Pernigotti

The sale ends more than two years of uncertainty over the future of Pernigotti, following the sale of its ice cream unit.

It also ensures that one of the longest-living chocolate brands, dating back to 1860, will continue production in Italy.

The acquisition of Pernigotti comes a few months after JP Morgan entered the capital of Walcor, a leading Italian chocolate manufacturer, based in Cremona.

Both acquisitions are part of the US multinational’s plans to create an Italian hub for chocolate excellence.

Pernigotti and Walcor are complementary brands in terms of products, offering the possibility of developing synergies.

© 2022 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.

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