Türkiye’s largest flour producer, Ulusoy Un, on Friday introduced it had acquired an 85% stake within the Italian pasta firm Pastificio Mediterranea from Spain’s Cerealto group.
Pastificio is a century-old pasta producer in Italy’s Silvano d’Orba area and the share buy is a part of Ulusoy’s technique to develop into excessive value-added sectors, the corporate stated in a press release.
The deal is alleged to whole practically 5.3 million euros (about $5.76 million), the assertion to the Public Disclosure Platform (KAP) learn.
The founding Moccagatta household will stay concerned within the firm, contributing their experience and legacy, it famous.
Founded in 1908, Pastificio Mediterranea started producing pasta utilizing conventional strategies, shifting to the area’s first automated urgent methods in 1936. In the Nineteen Fifties and 60s, the corporate’s merchandise entered worldwide markets with the enduring Moccagatta branding.
In 2003, to satisfy rising demand, the corporate shifted operations to a contemporary plant in Silvano d’Orba, the place it continues manufacturing.
“We will contribute to Pastificio’s growth and further expand its geographical coverage through the group’s raw material supply capabilities and its extensive network of customers in different geographies,” stated Eren Günhan Ulusoy, the chairperson of Ulusoy Un.
Marco Ferraroni, the final supervisor of Pastificio Mediterranea, added: “We are excited to proceed our journey with an vital group that shares our firm’s values and objectives.
“We are confident that together we will take our company to the next level.”
Earlier, Ulusoy’s subsidiary Soke, a Turkish flour producer, acquired a 12.65% stake within the U.S.-based bread maker Rudi’s.
Source: www.dailysabah.com