Panealba-Campiello, an Italian manufacturer of baked goods, has acquired biscuit producer Artebianca Natura e Tradizione for an undisclosed sum.
Lucca-based Artebianca has until now been majority-owned by local private-equity firm Alto Partners through its Alto Capital III fund.
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Panealba-Campiello, based in Cherasco in north-west Italy, is controlled by the Tesio family and sells its products in the Italian retail channel. It also has a presence abroad.
The company’s products include speciality Italian baked snacks such as crostini and grissini.
It merged with Campiello after it bought the local biscuit business in 2008.
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Artebianca produces biscuits under its namesake brand with a focus on the better-for you sector.
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By GlobalDataA spokesperson for Alto Partners confirmed to just-food the deal has been done but is yet to close.
“We signed a binding agreement for the sale of Artebianca, however the closing of the deal is expected to take place in the coming days,” he said.
