Italy-based Pizza manufacturer Margherita has acquired a majority stake in local peer ProPizza.
The pizza producer, owned by Switzerland’s Idak Food Group, is expanding its product range with the move.
Margherita said its portfolio “now covers the entire product range in the premium frozen pizza segment” including pinsa and focaccia products.
Financial details of the deal were not disclosed.
ProPizza will continue to be managed by the current owners, the Della Rocca and Falcone families, who will retain a “significant” minority stake in the company.
Fregona-based Margherita saaid its management team will work “in close cooperation” with ProPizza.
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Andrea Ghia, CEO of Margherita said: “We will work closely together in the areas of sales, innovation and operations and thus jointly utilise further attractive growth potential”.
Ghia added: “This acquisition completes our range of premium pizza products. It enables us to continue to grow in the market.”
Margherita was acquired by Idak Food Group in March 2020. It forms the pizza and pizza snacks segment of its portfolio.
The company was founded in 2001. Outside its domestic market, it’s main export markets are within Europe..
Together with the local production company Prodal and distribution company Margherita in Schweiz, it employs more than 400 people and generates sales of around €85m ($91.5m).
ProPizza, founded in 2003 is a manufacturer of dough products such as pinsa, foccacia and pizza bases, which are mainly distributed at home and in other European markets.
It employs around 40 people and generated sales of around €9m in 2023.
Christof Lehmann, CEO of Idak, said the purchased business “fits perfectly” into the company’s portfolio.
“It is our declared aim to make strategic acquisitions and build a strongly networked growth platform of specialised companies and manufacturers in the premium frozen food sector in Europe,” he said.
The company, which also owns businesses in the snacking area, is owned by the Switzerland-based investor group Invision and Germany’s Nord Holding.
It employs around 1,000 people and in 2023 generated sales of around SFr250m ($286m).