Campofrio has refused to be drawn on the future of its pizza production network in Spain, with plans for a new plant in the same town as its existing factory.
The Spanish food group confirmed to just-food today (12 June) it is planning to build a facility in Olvega in north-eastern Spain, where it already has a plant producing chilled pizzas.
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Asked whether the new factory would replace the old site, a spokesperson said: “We have no answer for that so far, since we will have to walk step by step.”
The spokesperson said plans to build a new pizza plant were at the “project” stage and the company could not provide details on how much it would invest in the new facility.
However, he added Campofrio was the second-largest supplier of chilled pizzas in Spain and believed it could expand its business in the category. “We continue growing. Therefore, we identify there is a market opportunity for us,” he said.
Campofrio is planning to spend EUR300m (US$375.2m) over the next three years on production, marketing and new products. It is targeting a 3-5% increase in sales each year by 2015, by when it also wants its EBITDA margin to be 12%.
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By GlobalDataIn 2011, Campofrio’s sales increased 13.6% to EUR1.83bn thanks to its acquisition of Italian firm Fiorucci in April. Excluding that deal, sales were up 1.7%. Last year, Campofrio’s normalised EBITDA was EUR169.4m; its EBITDA margin was 9.27%.
