Italian agri-food group Granarolo has announced the acquisition of Gorgonzola cheese producer Mario Costa.
The deal will see the purchase of 100% of the shares of the company, owned by the Fileppo Zop brothers.
With more than 100 years of history and a focus on quality, Mario Costa achieved an annual turnover of around €15 million in 2020. The company processes around 20,000 tonnes of milk from the Lombardy region each year.
Most of the turnover is achieved on the Italian market, while the remaining 31% of sales comes from exports, mainly in Europe (UK) and overseas (Japan and the United States).
First Acquisition Since The Pandemic
The acquisition of Mario Costa represents Granarolo Group’s first acquisition since the start of the pandemic and forms part of the company's 2021-2025 Strategic Plan, which focuses mainly on the enhancement of Italian excellence both at home and abroad.
As a result of the deal, Granarolo will be able to process more Italian milk, and enter the Gorgonzola market with a historic brand, a high-quality product and a state-of-the-art factory, it said.
Granarolo also plans to boost the presence of the Mario Costa brand in existing markets and expand its reach in those countries where the group has been operating for a long period or which it has identified as target countries.
Both the Fileppo Zop brothers and the 32 employees will remain with the company.
Granarolo recently introduced sustainable packaging solutions for a number of its dairy products.
© 2021 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