Swiss food group Orior has taken full ownership of Italian fresh pasta manufacturer Pastificio Gaetarelli.
In a statement issued yesterday (2 March), the company said it acquired the final 81% shareholding for a consideration in the “mid single-digit millions”.
Orior said the transaction is “strengthening its strategic position in the premium fresh pasta segment and sending a clear signal for focused, value-creating growth”.
Based in Salò on Lake Garda, Pastificio Gaetarelli supplies pasta to retail and foodservice customers.
Orior said the business has “enjoyed a close operational partnership for many years”, with Pastinella, its pasta-focused unit.
It also described the completed takeover as the “logical and forward-looking next step” in that relationship.
Orior said Gaetarelli, which employs about 30 people, will continue operating as an independent company in Italy.
The group said it is “deliberately” maintaining continuity, corporate identity and local roots. From an organisational perspective, Gaetarelli will be overseen by the Pastinella business unit and will sit under Orior Food AG.
The acquisition is expected to contribute a low single-digit million amount in sales from customers in Europe.
The deal follows the launch of what Orior has described as a “far-reaching” restructuring programme aimed at cutting debt.
Alongside its first-half results published in August, Orior said the measures included a review of “all strategic options” for Belgium-based Culinor Food Group, including a potential sale.
For the first half, Orior’s net sales were down 2.9% at Sfr304.9m ($378.05m). EBIT plunged 55.2% to Sfr4.1m, while net profit attributable to shareholders dropped 78.9% to Sfr1.3m.
Net debt was reduced to Sfr173.3m from Sfr181.4m at year-end, though leverage remained elevated at 5.2x adjusted EBITDA, more than double the group’s target of below 2.5x, the group said.
In a financial update released in January, Orior said it planned to speed up debt reduction, forecasting net debt of about Sfr153m by the end of 2025.
“Orior is thus continuing the chosen course of consistently strengthening its balance sheet,” the statement said.
The company said in January it expected its net sales in 2025 to reach SFr623m, down 1.5% on an organic basis, a result above the 2-4% decline the group had forecast.
Just Food has asked Orior for an update on the review of its Culinor Food Group assets.
The company is expected to report its 2025 financial results later this month.
