American Italian Pasta has made an agreement to acquire two pasta brands from Archer Daniels Midlands and one from Pastificio Lensi for a purchase price of US$9.5m.
The two brands acquired from Archer Daniels Midlands are Martha Gooch, which is already produced by American Italian, and LaRosa. American Italian has also acquired the Lensi brand from Italy’s Pastificio Lensi, a small family-run pasta manufacturer, which it is hoped will give American Italian greater access to the markets of Europe and the Middle East. Marzio Lensi has joined the board of American Italian’s unit in Italy.
American Italian Pasta had revenue of $310.8 last year. Its three newly purchased brands together have annual revenue of $15m. The deal is for the use of the names only and not for any manufacturing facilities, reported The Kansas City Star.