Investment company Italmobiliare has expanded its presence in the Italian food sector, with the acquisition of cooked ham producer Salumificio Capitelli.
Italmobiliare has taken a controlling stake in the business, teaming up with Angelo Capitelli, who will remain as the company's chairman, to support the commercial and industrial development of the business.
Capitelli ended 2018 with revenues of €11.6 million, an EBITDA of €2.43 million and a net profit of €3 million.
For 2019, the company is forecasting a turnover of €13 million, up nearly 20% year-on-year and EBITDA higher than 20%.
Premium Ham
Family-owned Salumificio Capitelli, which was founded in 1976 near Piacenza, produces premium cooked ham according to traditional production methods.
The cooked ham segment in Italy represents about one-third of the entire cured meat sector, in terms of both value and volume, and is split between numerous producers.
Market fragmentation and growing interest by Italian and international consumers towards high quality products are the factors underlying the Italmobiliare investment.
Caffè Borbone
This is Italmobiliare’s second major move into in Italy’s food and beverage sector after taking a controlling stake in Caffè Borbone (60% with an investment of €140 million), which is owned by the Pesenti family.
Italmobiliare Investment Holding is a medium/long-term investor in different industries, focusing on (listed and non-listed) companies with interesting growth prospects or stable returns on investment.
© 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
