Italian team Granarolo sells balsamic vinegar small business to Monari Federzoni | Food Sector Information

Italian team Granarolo sells balsamic vinegar small business to Monari Federzoni | Food Sector Information

Monari Federzoni purchasing balsamic-vinegar business enterprise for an undisclosed sum

Granarolo, the Italian company providing off property outside of its main dairy business enterprise, has introduced the disposal of its balsamic vinegar and condiments operation Fattorie Giacobazzi to a community business. 

Monari Federzoni, which claims to be Italy’s joint leader in the balsamic vinegar current market, is acquiring the property for an undisclosed sum adhering to an agreement with Granarolo. The two Monari Federzoni and family members-owned Giacobazzi deliver balsamic vinegars originating from the Italian province of Modena.

Giacobazzi was started in 1988 and posted a turnover in 2019 of EUR14m (US$17.2m) dependent on output of all around 5.5 million litres. Exports symbolize 90% of its small business throughout additional than 13 nations, with North The united states accounting for 47% and the United kingdom and Eire 13%.

The company operates two factories in Modena and provides branded vinegars beneath the names Fattorie Giacobazzi, Nonna Carlotta, Carlo Magno, Balsaurum and Dispensa Ducale, and also manufactures for personal-label customers.

Monari Federzoni is run by president and CEO Sabrina Federzoni, who explained in a assertion the acquisition will allow the business to consolidate its market place situation in the Modena balsamic vinegars sector.

Following the deal, the combination turnover of Monari Federzoni and Giacobazzi will be around EUR32m.

Gianpiero Calzolari, the president of Granarolo, claimed the asset disposal is reflective of its concentration on milk and dairy “derivatives” and at the very same time the business is eyeing acquisitions in Italy and overseas.

Previous October, Bologna-based mostly Granarolo offered its Pandea baked goods enterprise to area breadmaker Morato Pane and was also reportedly in search of to offload its stake in pasta producer Pastificio Granarolo. just-food has asked Granarolo for an update on that planned disposal.

On the offer front, in 2019 Granarolo elevated its stake in cheese maker Venchiaredo. And exterior of Italy, the past calendar year it acquired the UK’s Midland Food items Team, which has a minimal existence in dairy and also manufactures frozen food items and cooked meats.

Calzolari reported: “With a view to simplifying the business enterprise design, we are employing a concentration on milk and its derivatives market. We are presently performing on new acquisitions both of those in Italy and overseas. 

“We express fantastic pleasure for staying able to close an crucial transaction in the identify of Italian continuity of possession, with a sound business, with tradition and concentrated on the balsamic vinegar industry.”