Pastificio Di Martino Set For Italian Stock Exchange
Pastificio Di Martino Gaetano e Fratelli is set to become the first Italian pasta producer to be listed on the Italian Stock Exchange and file an IPO, reports Il Sole 24 Ore.
The Naples-based company has recruited Banca IMI as an advisor for the listing, an operation that could be preceded by the arrival of a private equity as a minority shareholder.
Three years ago, the dried pasta producer acquired rival Pastificio Antonio Amato; a company that has turned its flagging fortunes around in the years since, with the company posting annual sales of €14 million and aiming to become a leading player in the Italian retail channel.
In May, Pastificio Di Martino acquired 67% of Grandi Pastai Italiani, combining the production of dry and fresh pasta.
Pastificio Di Martino earns a significant part of its turnover by producing pasta for leading foreign retailers such as Tesco, Walmart, and Coop in Scandinavia. Turnover has increased from €6 million in 1998 to a current total of €165 million, with a target of €250 million in the next three years.
© 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