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

Go deeper with GlobalData

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

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 - Nominations Closed

Nominations are now closed for the Just Food Excellence Awards. A big thanks to all the organisations that entered – your response has been outstanding, showcasing exceptional innovation, leadership, and impact.

Excellence in Action
Winning five categories in the 2025 Just Food Excellence Awards, Centric Software is setting the pace for digital transformation in food and FMCG. Explore how its integrated PLM and PXM suite delivers faster launches, smarter compliance and data-driven growth for complex, multi-channel product portfolios.

Discover the Impact