Gruppo Newlat Buys Pasta Delverde For €9.25m
Italian food company Gruppo Newlat has acquired Delverde Industrie Alimentari from Argentine multinational Molinos Ri'o de la Plata, reports Italian daily Il Sole 24 Ore.
Based in Fara San Martino in Abruzzo, Delverde is a historic Italian food company specialising in the production of premium pasta.
The enterprise value of the transaction is reported to be around €9.25 million.
Gruppo Newlat intends to invest majorly in developing the Delverde brand, which has a significant market share in Germany.
The company is also planning to open up its capital for investors by the end of this year, with a float on the Milan Stock Exchange, to raise funds for more acquisitions and further growth, the report said.
A possible acquisition on the table could be that of Plasmon, provided Kraft Heinz decides to divest it.
Newlat is already a supplier of Plasmon and could be interested in taking over the entire division for around €600 million.
Over the past decade, Gruppo Newlat, which is controlled by Italian family Mastrolia, completed a series of acquisitions in the food and beverage sector.
The acquisitions have helped in boosting sales from €20 million to €350 million.
Gruppo Newlat has completed M&A deals with leading multinationals, such as Nestle', the Kraft Heinz Company, Ebro Foods, Parmalat and now Molinos.
It has a wide range of well-known pasta, bakery and dairy brands in its portfolio, including Giglio, Polenghi, Optimus, Birkel, Drei Glocken, and Buitoni.
The company has ten production plants across Italy and Germany.
© 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.