MADRID, SPAIN — Ebro Foods S.A. has reached an agreement to acquire a majority interest in Bertagni 1882 S.p.A., an Italy-based pasta company. Under terms of the transaction, Ebro said it will pay approximately €130 million ($159.2 million) for a 70% stake in Bertagni.
Founded in 1882 in Bologna by Luigi Bertagni, Bertagni is known as “the oldest brand of filled pasta in Italy” and a “specialist of the fresh pasta premium segment.” The company has plants in Vicenza and Avio, Italy, and a workforce of 275. The company’s sales in 2017 are expected to exceed €70 million, with about 90% of the business originating in Italy.
Ebro Foods said Antonio Marchetti, co-owner and president, and Enrico Bolla, co-owner, will continue to manage Bertagni and will maintain a 30% interest in the company.
“Ebro considers this acquisition as a great opportunity to accelerate its growth in the promising fresh segment and become the second largest producer of fresh pasta in the world, within Ebro’s strategy of consolidating its growing in all segments of fresh food,” Ebro Foods said.The transaction is subject to regulatory but is expected to be concluded by the end of March.