Bakkavor is to sell the rest of its shares in Italy-based frozen pizza business Italpizza.
The UK-based own-label group sold 40% of Italpizza last year to Dreamfood, an investment company controlled by Cristian Pederzini, the MD of the Italian firm.
Go deeper with GlobalData
Bakkavor said today (16 April) Dreamfood would exercise an option in the deal to buy the rest of the shares. Last year's deal included a three-year option for Dreamfood to acquire 100% of Italpizza.
The transaction is expected to be closed in the second half of the year.
See Also:
