Ferrero Buys Frozen Bakery Producer Fresystem
The Ferrero Group has acquired Italian frozen bakery firm Fresystem for an undisclosed amount.
Fresystem, founded in 1983 and acquired by the Simioli family in 1991, closed its most recent financial year (2021) with a turnover of €60 million.
The company operates through its production hub in Caivano (Naples), from where it produces and distributes Cupiello branded products and operates as a contract manufacturer.
Fresystem produces loose bakery products for bars (brioche, muffins, sfogliatelle) under the Cupiello brand and also for large retailers and other commercial chains.
The company has been working alongside Ferrero for a number of years, for which it already produces Nutella muffins. These can be found in large chains such as Autogrill and McDonald’s.
The acquisition is part of Ferrero’s strategic growth path in the high-potential segment of sweet out-of-home.
It also helps to consolidate Ferrero’s position in Italy, which remains a strategic hub for the business both in terms of production and market penetration.
The Caivano plant becomes Ferrero’s second production hub in Campania and joins the group’s existing plant in Sant’Angelo dei Lombardi in the province of Avellino.
The transaction, subject to customary closing conditions, is expected to close in the coming months, Ferrero said in a statement.
The Italian frozen bakery products is a market worth over €500 million, with the majority of sales taking place in cafés, restaurants, forecourts and large supermarket chains.
Related news
Inflation accelerated in Italy in March
In Italy, instead of the 1.3 percent reported on the…
Read more >Scientists prove drinking good wine ‘makes you happier’
Drinking high quality wine really does make you feel happier,…
Read more >Coop to reduce the VAT rate on sanitary pads in Italy
Coop Italia has decided to absorb a recent VAT increase…
Read more >Related news
In 2023, SPAR realized a turnover of over HUF 1 billion
SPAR Hungary achieved a turnover of HUF 1,023.2 billion in…
Read more >KSH: Gross average earnings were HUF 605,400 in February 2024, 14.0 percent higher than a year earlier
In February 2024, the gross average earnings of those employed…
Read more >Primark’s first domestic store will open in a month
Primark will open its doors at 10 a.m. on May…
Read more >