Valpizza Group, the Italian frozen pizza and pizza-base manufacturer, has swooped to acquire local businesses Ghiottelli C&D and La Pizza+1.
Backed by private-equity firm Aksìa Group, Bologna-based Valpizza firstly bought C&D, which makes finger food and single-portion frozen specialities. It then moved to acquire Piacenza-based La Pizza+1, which manufactures chilled and shelf-stable products including pizza, pinsa and focaccia. Financial details were not disclosed.
Aksia acquired Valpizza last year. It said the deals will boost Valpizza’s growth and reinforce its plans to double sales by 2025 through the creation of an “integrated pizza hub”.
It revealed Valpizza is expected to close 2021 with a turnover of around EUR70m (US$85.3m). In 2019, the company recorded a turnover of around EUR20m. The business, set up in 1992, makes 80 million pizzas a year under its own brand and for the private-label market at home and abroad.
Valpizza said it is continuing to proceed with a plan focused on vertical and horizontal integration in the pizza sector. The two new deals follow the acquisition last year of chilled pizza business Megic Pizza.
Marco Setti, CEO of Valpizza, said: “This is a relevant acquisition with significant strategic potential for the Valpizza family adding another important milestone to its growth path. We are proud to team up with a leading player like La Pizza+1, which over the years had been able to innovate both in terms of product and process, achieving results that will contribute to the success of the group.”
Marco Rayneri, founding partner of Aksìa Group, said: “The transaction allows Valpizza to establish itself as the top player in the Italian market and opens new possibilities for development abroad with the aim of exporting the real Made in Italy quality.”
Sante Ludovico, CEO of La Pizza+1, said: “I’m extremely proud of participating in this project with our new partners, establishing an all-Italian Group that will facilitate the acceleration of our international expansion.”
Both the La Pizza+1 and C&D deals saw Valpizza acquire the businesses from the founders.
In the case of Bari-based C&D, the founders – the Carbonara family – will continue to hold more than 20% of the company’s shares.