Dutch food group Wessanen has agreed the acquisition of Righi, based in Reggio Emilia in Italy.
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Righi is a specialist brand in delicacies that cleverly combine all the most authentic Emilian flavors with today’s trend of ready-to-serve in a matter of minutes, Wessanen said.
Righi is expected to achieve sales of between €9m (US$10.9m) to €10m in 2005. Its success is marked by constant growth and excellent sales results. First-rate hygienic and technological standards and high-quality ingredients make Righi’s tortelli, savory tarts and pastries enticing culinary specialties, Wessanen said.
Righi’s premium quality and authentic products, as well as the strong brand image, are a good addition to the current portfolio and will serve as a vehicle for further transformation of current Wessanen brands, it said. For Righi, Wessanen provides a platform for international growth and expansion into the retail and out-of-home channels. The Righi company will keep its full identity within the Wessanen
group.
“Wessanen will enable us to increase our international presence,” said Leonardo Righi, founder of the company. “The high quality production processes, the premium ingredients and the Italian heritage we combine in our products will become more and more available outside Italy. The partnership with the Wessanen group of companies will add to our strengths the Wessanen professionalism of an international specialist in health and premium taste foods.”
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By GlobalData“Righi adds great value to our core activities in the field of Premium Taste foods,” said Ad Veenhof, chairman of Wessanen’s executive board. “It provides us with a well positioned brand, an excellent product range and a well-managed organization. What I particularly like about the company are the high standards they impose on themselves regarding authenticity, quality and taste. Those values are precisely what we intend with the core values of our premium taste strategy.”
The acquisition will be paid in cash and will contribute to the earnings per share as of 1 January 2005.
