Italian Sugar Company Eridania Sold To France’s Cristal Union
French sugar and ethanol cooperative Cristal Union, via its subsidiary CristalCo, has purchased Italian sugar and sweetener distributor Eridania Italia.
CristalCo, which has owned a 49% stake in Eridania Italia since March 2011, has now acquired the remaining 51% from Italy’s Maccaferri Group, as the company is ceasing production of beet sugar.
This transaction will help ensure the future of the Genoa-based company, as CristalCo will be able to supply the Italian market and also strengthen the development of the Eridania brand alongside Daddy and Erstein.
It also fits into the development strategy of the Cristal Union Group, strengthening its presence in the Mediterranean.
According to the managing director of Cristal Union Group, Alain Commissaire, “The deal also represents an excellent opportunity for Cristal Union to strengthen its sales network in southern Europe, providing new opportunities for our planters, in terms of market liberalisation."
The deal is expected to be completed by the end of July.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. To subscribe to ESM: The European Supermarket Magazine, click here.