Gruppo Morato, the Italy-based bakery business, has acquired local peer Ro.Mar, it has announced.
The deal, for an undisclosed sum, sees Morato taking over a Venice region business which specialises in sliced bread.
Ro.Mar has an annual turnover of approximately EUR20m (US$47.5m). It owns two plants and has four production lines and makes bread on a B2B and private label basis.
Morato, which has also announced the purchase of a production facility in Spain, said that in recent years the company has invested in technological and process innovations, introducing one of the first plants in Italy for the production of sourdough bread.
Stefano Maza, CEO of the Morato Group said the deal is part of its strategic plan to concentrate on the development of its core market of bakery products with the aim of expanding at home and abroad.
“We are very satisfied that we have taken this acquisition, which represents a great opportunity in terms of synergy for our group,” he said.
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“It maintains a sound industrial and integration logic, as part of a vision shared on the fundamentals of innovation.”
Last October, Morato acquired the Pandea baking arm of local dairy heavyweight Granarolo.