Dairy firm Lactalis has taken over Italian dairy group Nuova Castelli, one of the main exporters of Parmigiano Reggiano cheese.
The French company has signed an agreement to acquire of the entire capital of Nuova Castelli, 80% of which is owned by UK-based fund Charterhouse Capital Partners.
Founded in 1892, Nuova Castelli is a producer and distributor of a variety of Italian DOP cheeses including Parmigiano Reggiano, Mozzarella di Bufala Campana, Gorgonzola and Taleggio.
The most well-known brands in the portfolio are Castelli, Mandara and Alival.
The company operates 13 production sites in Italy and three overseas facilities, and in 2018, it achieved a turnover of €460 million, of which about 70% was derived from exports, mostly to France, the UK, Russia and Germany.
Nuova Castelli products are sold both under the company’s own brand and its clients’ private labels, both in Italy and abroad.
As a result of the acquisition, Lactalis increases its position in Italy where it holds about one-third of the dairy market, increasing its reach to 29 production sites.
The acquisition is subject to approval by competition and regulatory authorities.
Charterhouse Capital Partners purchased Nuova Castelli in 2014 for around €350 million.
© 2019 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