De Cecco acquires Russian pasta group

Italian pasta producer De Cecco has completed the acquisition of Russian PMK group, which accounts for about 10% of the Russian pasta market, from holding Ekoofice in a deal worth €40m ($55m).

Through the acquisition De Cecco gains control of three factories based in Moscow, Smolensk and St Petersburg, with a total output of 100,000t a year, as well as a commercial and logistics facility in the Russian capital.

De Cecco said it saw strong growth potential for its products in Russia, and plans to invest an additional €30m ($41.36m) in its Italian plants to increase the production capacity.

De Cecco, based in the central Italian province of Abruzzo, generates 45% of its sales outside Italy

De Cecco was advised by Deloitte and KPMG during the acquisition.