Administrators of insolvent Italian food group Cirio are reported to have recommended that the company accepts a bid for its Cirio-De Rica food unit from Conserve Italia.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more


“The commissioners have recommended the bid from Conserve Italia for Cirio-De Rica,” Reuters quoted a source close to the deal as saying.


Conserve Italia is believed to have offered just over €150m (US$184.6m) for Cirio-De Rica, which includes Cirio’s main Italian assets. Conserve Italia and Alimentare were the only two companies left in the bidding process.


Cirio was declared insolvent in 2003 after defaulting on €1.1bn of bonds. Any sale of Cirio-De Rica will have to be approved by the Italian government.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now