Italian bakery group L’Albero del Pane has attracted new capital from a group of investors to support its “consolidation strategy” in the country’s baked goods sector.
The latest funding, the value of which has not been disclosed, includes participation from Unigrains Italia, BNP Paribas BNL Equity Investments, Hydra and Alexa Invest.
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Founded in 1979 by the Tedesco family, L’Albero del Pane manufactures and distributes a wide range of sweet and savoury bakery products, including biscuits, croissants, fresh pastries, seasonal items and bread substitutes.
In a statement today (9 December), the baker said the funding will be used to speed up the group’s development via “organic and external growth projects”.
Chief executive Agazio Tedesco and the Tedesco family have also “significantly” reinvested in the business as part of the transaction.
Agazio Tedesco said: “Through this transaction, we are taking an ambitious step forward, relying on the support of Unigrains Italia, a financial partner specialised in the agri-food sector.
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By GlobalData“This partnership will sustain us in pursuing our growth strategy, both organic and through external acquisitions.”
To meet its expansion goals, the baker said it aims to “strengthen” its management structure, bringing in specialist technical profiles to add expertise, enhance product quality and support the creation of new recipes.
The company said targeted spending on equipment and people has allowed it to gradually broaden its portfolio, which now comprises more than 1,000 stock keeping units (SKUs).
It added that it has recently increased production capacity and is continuing to extend its facilities.
L’Albero del Pane currently operates three production plants with a combined surface area of around 40,000sqm and has a workforce of 230.
Combined sales for L’Albero del Pane and its subsidiary Tedesco Srl reached about €63m ($73.3m) in 2024.
Around 45% of revenue came from its own brands – Ore Liete, GranArt and Piselli – while exports accounted for 30% of turnover, with products shipped to more than 70 markets.
Commenting on the deal, Unigrains Italia CEO Francesco Orazi said: “We consider the baked goods sector to be a distinctive segment of the ‘Made in Italy’ tradition and believe it maintains high growth potential, whether organically or through acquisitions.
“For this reason, we intend to support L’Albero del Pane both commercially, by leveraging our network of relationships, and in terms of identifying potential acquisition targets.”
Banco BPM acted as the sole lender on the deal through its Reggio Emilia Corporate Banking Centre.
