Foster Clark Products has acquired Preziosi Food from a group of investors including private-equity firm Vertis SGR.
The deal marks Foster Clark Products’ entry into the Italian savoury snacks market.
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Foster Clark Products, headquartered in Malta, is known for its products, including powdered beverages, desserts, and baking aids.
The financial terms of the transaction, which closed on 31 July, were not disclosed.
In a statement, Houlihan Lokey, which advised on the deal, said the transaction is part of Foster Clark Products’ “broader external growth strategy aimed at expanding its footprint in Europe”.
The deal gives Foster Clark Products a “key operational base” in Italy across the savoury snacks, confectionery and sweet goods categories, Houlihan Lokey added.
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By GlobalDataSet up in 1999 under the brand Mitica, Preziosi Food produces branded and private label chips and savoury snacks.
In a separate statement on LinkedIn, Vertis SGR said Preziosi Food has “consolidated its leadership in the private-label sector and relaunched the historic Salati Preziosi brand”. In 2024, Preziosi Food’s revenues exceeded €86m ($100m).
Vertis SGR said: “The divestment has enabled investors from the private-equity funds of Vertis SGR and Hat SGR to obtain an attractive financial return.”
It added Foster Clark Products will “ensure continuity” and “further international development” at the company.
The company already has international presence in the Middle East, Africa, and parts of Asia.
Just Food approached Foster Clark Products for comment.
