Italy's Ferrarelle Buys Chocolate Maker Amedei
Italian mineral water company Ferrarelle has announced the acquisition of a 99% stake in Tuscany-based artisan chocolate manufacturer Amedei.
The deal will encompass the purchase of the shares bought in 2015 by the Octopus Europe Limited fund. Founder Cecilia Tessieri will retain a 1% stake.
According to a press statement, Tessieri will stay with the company “to ensure continuity in the quality and uniqueness of research that has made Amedei a world-renowned brand for its excellence in the selection and processing of cocoa".
Ferrarelle also promised it will continue investing further in its Pontedera production unit with the goal of expanding sales of the chocolate brand through its own distribution network.
Amedei’s product portfolio includes bars, pralines, drops and flaked chocolate and spreads. The company closed 2016 with a turnover of €3 million and sells 40% of its products abroad.
© 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