La Molisana Increases Turnover Six-Fold, De Cecco Seeks Listing
Italian pasta producer Pastificio La Molisana is expected to close 2017 with a turnover of nearly €140 million.
This represents a six-fold increase since 2011, when the company was acquired by the Ferro family. Around 35% of turnover comes from sales in around 80 countries.
The Campobasso-based company now aims to reach €200 million in the next three years, according to CEO Giuseppe Ferro, allowing it expand its presence in international markets.
To support this growth strategy, more than €42 million has been invested since 2011.
The company has developed a number of new pasta recipes in response to consumer demand, including increased protein, increased fibre, gluten-free and wholemeal pasta.
It also unveiled a new packaging and branding design last September.
Meanwhile, Italian pasta company De Cecco is seeking fresh capital to finance the opening of a production plant in the US and to reduce debt.
According to Il Sole 24 Ore, De Cecco has chosen Unicredit and Credit Suisse as advisors for a potential IPO, which could be implemented in 2018.
De Cecco already attempted a listing on the stock exchange around ten years ago, but the move was put on hold.
© 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