Arena Holding
, an Italian food company active in poultry and frozen food, has purchased compatriot company Garbini, strengthening its third-place position in frozen foods behind Findus and Nestlé.Go deeper with GlobalData
Arena paid €14m for a 75% stake in Garbini. The rest will remain with the Garbini family, which will stay on as head of Garbini as the two companies will continue to operate separately for the time being.
Wit the acquisition, Arena doubles its poultry production capacity to 700,000 a week.
Arena bills about €100m a year and improved its share of the frozen food market (especially fish) from 4.9% to 6.5%.
By Hilmi Toros, just-food.com correspondent
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