Cocoa and hazelnut spread manufacturer Nutkao has announced the takeover of Antichi Sapori dell'Etna, a Sicilian company specialising in artisan confectionery and spreadable creams.
The deal comes just days after Nutkao added Dutch company Boerrineke to its portfolio.
Founded in 2002 by Vincenzo Longhitano and Nino Marino, Antichi Sapori dell'Etna grew from a confectionery workshop to a business with 70 hectares of pistachio groves, two production plants and distribution in 52 countries.
With sixteen processing companies, it covers 35% of the entire pistachio production in Bronte (1% of world production) and achieved a 2020 turnover of over €55 million.
About Antichi Sapori dell'Etna
Antichi Sapori’s portfolio consists of Pistì, a leading brand in the large-scale retail trade; Vincente, with high quality products for the gourmet sector; and Madero Pastry and Madero Quality, which offer semi-finished products for high-end confectionery and industry.
The company also produces award-winning private label products for a number of retailers.
Courted by numerous private equity funds, in recent years the company has recorded continuous growth, supported by its presence in strategic foreign markets such as Spain and Australia.
Future plans for Antichi Sapori include the production of ice-cream creams and pastes in California, in partnership with a US company, according to daily Il Sole 24 Ore.
Nutkao Eyes Future Growth
For Nutkao, the merger will boost turnover to over €250 million, positioning the group as one of the leading European players in its sector, with product distribution in 80 countries worldwide.
The acquisition of Antichi Sapori and Boerrineke is part of the company’s plan to expand production and distribution.
In 2015 Nutkao opened its first plant in North Carolina. This was followed, three years later, by a plant in Accra, where only prime Ghanaian cocoa beans are processed.
In the coming days, Nutkao plans to announce new investments in research and development for the headquarters in Canove di Govone.
© 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