Italian frozen bread maker Lanterna-Agritech has been acquired by frozen bakery player Vandemoortele.
LAG’s ownership is shared by its management and private equity funds Yarpa and LBO France. The firm said the deal would allow it to strengthen its growth plans for Italy.
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“We are also excited by the prospect to export our authentic focaccia from Genoa across Europe and the world,” said a spokesperson for LAG.
Vandemoortele said the acquisition strengthened its bakery products business in Italy and allowed it to extend it product range with Italian products, including focaccia and ciabatta.
“This acquisition is fully in line with the growth strategy of Vandemoortele and comes on top of our investments in new factories in Lyon and Poland, as previously announced,” said Jean Vandemoortele, chairman of Vandemoortele.
The deal is expected to close at the end of January.
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By GlobalData
