Ebro Foods agrees to acquire 70% stake in Italy’s Bertagni

Spain’s Ebro Foods (Ebro) has entered a binding agreement to acquire a 70% stake in the Italian pasta manufacturing firm Bertagni 1882 (Bertagni).

The agreement was executed by Ebro’s Italian subsidiary companies Panzani and Pastificio Lucio Garofalo.

The €130m transaction is yet to receive clearance from anti-trust authorities and expected to be concluded by this year’s first quarter.

With a workforce of approximately 275 employees, Bertagni operates production plants in Vicenza and Avio.

Bertagni is said to be one of the oldest brands in Italy for filled pasta and a specialist of the premium fresh pasta segment.

In order to maintain the business continuity, current shareholders and managers Antonio Marchetti and Enrico Bolla will retain a 30% stake, as well as the company’s existing managing team.

The acquisition is reported to be in line with Ebro’s strategy to become a worldwide supplier of premium food.

By acquiring a major stake in Bertagni, Ebro intends to accelerate its growth in the fresh segment and become the second largest producer of fresh pasta in the world.

Ebro currently operates in more than 25 countries in Europe, North America, Asia and Africa through its network of subsidiaries and brands.