Spanish food company Importaco to acquire 51% stake in Besana

International food company Importaco has agreed to acquire a 51% stake in Italian company Besana.

Financial details of the deal have not been disclosed by the companies.

Based in Milan, Besana markets nuts, dried fruit, seeds, chocolate and snacks in the European market.

Besana president Pino Calcagni said: “In the current scenario, the globalisation of new markets and the development of synergies to improve economies of scale are becoming key commercial factors. The Importaco Group is the ideal strategic partner to achieve these objectives and create value throughout the supply chain.”

Established in 1940 in Spain, Importaco operates nuts and natural drinks business lines. It distributes its products to the retail segment in the country.

It has also established its presence in the agro-food ingredient and foodservice markets.

Following the stake acquisition, Importaco aims to strengthen its position in the natural food products category.

Importaco president Toño Pons said: “Through this transaction, we are consolidating our sustainable growth project based on quality and innovation, and leveraging our internationalisation and specialisation in natural products and healthy foodstuffs.

“We are creating a strong group with a solid competitive position, both in Spain and in other European markets, with high growth potential.”

The merged entity will be able to bolster footprint in various European markets, including the UK, Germany, France, Poland Spain, Italy, Scandinavia, and Belgium.

The merger is subject to regulatory requirements and expected to be completed by October.

Upon completion of the merger, Pons will be appointed as the chairman of the new group.

The merger will also see an increase in production capacities and a larger supply as the new group will have 17 manufacturing units across five countries.

The merged entity is expected to have an annual turnover of €770m.