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02 December 2024

Daily Newsletter

02 December 2024

Argos Wityu acquires Italian bakery business Monviso  

Monviso focuses on “health-conscious” products, including organic, gluten-free, and palm oil-free options. 

Shivam Mishra November 29 2024

Argos Wityu, a pan-European investment group, has acquired Italian bakery manufacturer Monviso.  

Financial terms of the transaction were not disclosed.  

Monviso, previously owned by Cerea Partners and CAPZA, has approximately 90 years of expertise in the dry bakery industry, producing premium, gourmet, and healthy products. 

Based in Northern Italy, the company manufactures a range of products, including rusks, biscuits, and bread substitutes.  

It supplies retail, third parties and the private-label channel with its Monviso brand, which is claimed to be the “third-largest” rusk brand in Italy.  

Monviso focuses on “health-conscious” products, including organic, gluten-free, and palm oil-free options. 

The company has expanded its product range through strategic acquisitions such as Biscotteria Tonon in 2015 and Grissinificio Europa in 2018.  

Argos Wityu managing partner Jean-Pierre Di Benedetto said: “The investment in Monviso is perfectly aligned with Argos’ approach: while it might appear a traditional and mature sector, we believe substantial growth can be achieved if constant innovation is pursued.  

“Final and intermediate client needs are rapidly evolving, and producers need to accompany and anticipate those changes.”   

Monviso CEO Manfredi Cusmano said: “This partnership will enable us to further strengthen our leadership in the premium bakery market and continue innovating to meet the evolving needs of our customers.” 

Monviso, which was acquired by Cerea Partners and CAPZA in 2018, operates five production plants and employs more than 160 people across northern Italy.  

The company is expected to generate revenues of approximately €60m ($63.38m) in 2024.  

Argos Wityu said it will also support Monviso's management team in “becoming a leading platform in the premium dry bakery market”. 

With Argos Wityu's backing, Monviso aims to further target retailers, co-makers, and industrial clients with a premium multi-product portfolio offering.  

Francesco Pugliese, who has expertise in food retail and consumer goods, has been appointed chairman.  

Previously, Pugliese served as CEO of CONAD and general manager of pasta and sauces heavyweight Barilla. 

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United States Baby Food Market Overview

GlobalData's latest report collates multiple data sources to offer a comprehensive baby food sector overview in the US from 2017 to 2029. Per our estimates, the US baby food market will grow at a CAGR of more than 4% during 2023-2029. The market outlook provided in the report includes demographic and socio-economic trends to aid clients in effective decision-making.

United States Baby Food Market Overview

GlobalData's latest report collates multiple data sources to offer a comprehensive baby food sector overview in the US from 2017 to 2029. Per our estimates, the US baby food market will grow at a CAGR of more than 4% during 2023-2029. The market outlook provided in the report includes demographic and socio-economic trends to aid clients in effective decision-making.

United States Baby Food Market Overview

GlobalData's latest report collates multiple data sources to offer a comprehensive baby food sector overview in the US from 2017 to 2029. Per our estimates, the US baby food market will grow at a CAGR of more than 4% during 2023-2029. The market outlook provided in the report includes demographic and socio-economic trends to aid clients in effective decision-making.

United States Baby Food Market Overview

GlobalData's latest report collates multiple data sources to offer a comprehensive baby food sector overview in the US from 2017 to 2029. Per our estimates, the US baby food market will grow at a CAGR of more than 4% during 2023-2029. The market outlook provided in the report includes demographic and socio-economic trends to aid clients in effective decision-making.

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