Italian Investment Fund Acquires Stake In Santangelo Bakery Group

5 days ago

The finance successful Santangelo Group marks nan 5th woody by nan Italian Agri&Food Fund (FIAF) successful nan past 18 months.

Fondo Italiano d’Investimento has acquired a 70% liking successful Santangelo Group, a bakery business successful Italy.

According to nan Italian finance firm, nan transaction is nan 5th woody completed successful nan past 18 months done its subsidiary Fondo Italiano Agri&Food Fund (FIAF).

Fondo Italiano d’Investimento said successful a connection nan remaining 30% liking successful Santangelo is held by nan bakery company’s CEO Gianluigi Formichetti, who will stay successful that domiciled and lead nan business going forward.

Financial position of nan deal, which is expected to adjacent this month, were not disclosed.

Founded successful 1968, Santangelo produces some branded and private-label meal bakery products for nan unit channel, including croissants and nan Italian speciality panettone.

It operates retired of a 5,000 square-metre installation successful Terni successful nan Umbria region of Italy and employs astir 180 people.

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Between 2020 and 2024, Santangelo much than doubled its revenues to €32m ($37m) successful nan astir caller fiscal year, pinch exports accounting for complete 25% of its full turnover, according to nan statement.

FIAF said it intends to “strengthen Santangelo’s position arsenic a benchmark successful nan premium leavened baked-goods segment”.

Senior partner astatine Fondo Italiano d’Investimento, Marco Pellegrino, said: “We are peculiarly pleased to support Gianluigi Formichetti and his full squad successful nan adjacent shape of Santangelo’s growth.

“Beyond nan company’s beardown financial performance, we greatly worth nan value of its products, nan artisanal quality of its production, and its positioning arsenic a starring marque successful nan premium meal leavened equipment segment.”

Formichetti added: “Santangelo has proven its expertise to grow moreover successful a fluctuating depletion environment. The investments outlined successful nan business scheme shared pinch FIAF will equip america pinch nan devices and resources to further create our offering of high-quality, wholesome, and delicious premium products, some successful nan home marketplace and cardinal world ones.”

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