Bauli, an Italy-based manufacturer of traditional sweet-baked products such as pandoro and pannetone, has sought to diversify by taking a majority stake in Slovakian sports nutrition business MaxSport.

Neither the financial details not the size of the stake taken have been disclosed.

The deal was confirmed to just-food by a representative of law firm MCL, which advised Bauli.

Bratislava-based MaxSport was established in 2005 and specialises in the development, manufacture and sale of dietary supplements aimed at the physically active.

Its products include the Royal Protein Bar, Protein Chips and Protein Cake.

Bauli was founded in 1922 in Verona, where it is still based. 

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The family-owned business now has more than 170 product types which, aside from pandoro and pannetone, include biscuits, children’s snacks, chocolate eggs and croissants.

Bauli’s turnover in 2018 was EUR472.6m (US$523.6m) and its net profit was EUR10.2m.

While the bulk of its trade is done within Italy, this Slovakia deal is not its first international venture. In 2017, Bauli opened a croissant facility in India. The company sells in markets including the UK and the US.

just-food has asked both Bauli and MaxSport for further details on this deal.