Barilla, the Italy-based food group, has snapped up a manufacturing facility from domestic peer Pasta Zara.
The family-owned giant has acquired a factory in Muggia, in north-eastern Italy, close to the border with Slovenia. Financial terms were not disclosed.
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“Certainly, the Muggia plant will contribute to strengthening our production capacity, also in regards to exports to international markets,” a Barilla spokesperson said.
Pasta Zara, which has two other factories, had fallen into financial difficulties. According to reports in Italy, last autumn, Pasta Zara’s debts stood at EUR240m (US$284m). The transaction is said to have secured Pasta Zara’s future.
The Barilla spokesperson added: “The deal will ensure the continuity of the business unit with the maintenance of employment levels and marks the start of an investment path by the Barilla Group with important positive repercussions on the region.”
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In February, Barilla announced the company and local tomato products business Gruppo Petti decided not to finalise a planned deal.
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