Several months after the acquisition of fresh pasta producer Lustucru, dry pasta specialist Panzani is now looking to diversify into frozen foods.
This would form part of a strategy to market Panzani as an ‘Italian cuisine’ brand.
The Lyon-based company is said to be interested in acquiring companies which would give it a production capability in the “frozen” segment. Firms with a turnover of €46-7m (US$49.7-50.8m) are being targeted.
Meanwhile, Panzani plans to develop the Lustucru Frais brand on the concept of “good French eating” with a move into ready-made dishes in the next year.
With Lustucru now part of the group, Panzani is eyeing a 2003 turnover of €570m.
It employs 1,420 staff and operates 11 plants.