Vandemoortele, a leading family-owned food group in Europe with a major presence in Italy, announces the acquisition of Lizzi srl., a specialty producer and distributor of frozen bakery products, from Forno d’Asolo SpA.
With this acquisition – which follows the important acquisition of Dolciaria Acquaviva in June 2024 – Vandemoortele further invests in the Italian frozen Bakery market and accelerates its growth. Lizzi offers a well-established presence and a broad portfolio of recognisable brands, exceptional quality products and a track record in innovation across sweet and savoury pastry, patisserie, bread, pizza and focaccia.
The strong product portfolio includes the Lizzi pastry specialities, the sourdough breads and focaccia of Forno della Rotonda and the natural breads and Piedmont specialities of Spar.
Lizzi srl has a turnover above 70 million Euro, employs over 240 people, operating four production plants in Northern Italy (Assago – MI, Caronno Pertusella – VA, Sommariva and Monticello – CN) and distributing its products both in the HoReCa channel and in large-scale Retail.
“We are delighted to welcome Lizzi into the Vandemoortele family,” says Yvon Guerin, CEO of Vandemoortele.“Along with Dolciaria Acquaviva in our Group, this strategic acquisition further reinforces our presence in the Italian market, in line with our vision of providing exceptional products and experiences to our customers.”
“With our Italian Team, we are particularly proud of this further step forward for our growth,” says Peter Boone, Managing Director Bakery Products. ”We will be able to offer our Italian customers an even wider range of specialty pastries and breakfast pastries, artisan breads, pizza and focaccias, covering the whole of Italy.”
The transaction is foreseen to be closed in the coming weeks. Terms of the transaction were not disclosed.
Oppenheimer, DSP Corporate Advisory and Rabobank acted as M&A Advisor on the transaction for Vandemoortele, Baker McKenzie as Legal Advisor, Deloitte as Financial Advisor and PWC as Tax Advisor.
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