Vicenzi Pastry Sees 15% Sales Growth In 2016
Italian pastry company Vicenzi experienced a 15% growth in sales to €106 million in 2016, while profit more than doubled to €2.5 million, reports Il Sole 24 Ore.
Forecasts for the current year are equally optimistic: in the first five months of 2017 sales were up by 20% - 15% in Italy and 30% in foreign markets.
The company’s exports amount to €35 million, and are set to rise to €40 million in 2017 and to €80 million over the next three years. Vicenzi exports its products to over 100 countries, with US being the largest importer.
The Verona-based company plans to invest €3.5 million in 2017, and a total of €6 to €7 million in the next three years, mostly for upgrading the production lines and improving energy efficiency.
Meanwhile, it is seeking a financial investor that would help it expand in the international market, especially Asia.
© 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