Granarolo, the Italian dairy business, has continued its diversification with a move into the bakery sector through the acquisition of local business Pandea Dietetica.
Pandea specialises in the production of baked goods with and without gluten.
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Granarolo chairman Gianpiero Calzolari said the acquisition was part of the group’s plans to “further diversify the portfolio of products aimed at domestic and foreign consumers [who are] more and more inclined to use functional foods for their welfare”.
Calzolari said the free-from sector “will grow significantly in the coming years”. He added: “All the research confirms this and we are working to respond to a rapidly-changing market with quality Italian products, while seeking to operate in respect of existing realities and reference territories.”
Parma-based Pandea had a turnover in 2015 of EUR12.9m (US$13.6m), of which 66% came from sales of “conventional” products such as crackers and bread sticks, Granarolo said.
Earlier this year, Granarolo acquired 60% of local vegetarian and organic food maker Conbio. The deal, struck for an undisclosed sum, saw Granarolo invest in a business manufacturing products including burgers, soups and ready-made dishes.
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By GlobalData
