BIELEFELD, GERMANY — Dr. August Oetker KG has reached agreement to acquire Galileo Lebensmittel KG, a Trierweiler, Germany-based maker of frozen pizza snacks. Financial terms of the transaction were not disclosed.
Under terms of the agreement, Dr. Oetker will acquire Galileo’s production facility in Trierweiler. Founded in 1993, Galileo will continue to operate as an independent company by existing management.
“For Dr. Oetker, the planned acquisition of Galileo represents a significant expansion of our presence in the pizza snacks sector,” said Albert Christmann, chief executive officer for Dr. Oetker. “We are pleased to be able to add Galileo Lebensmittel KG to our group, a company that, as a family-owned business, fits Dr. Oetker’s values, goals and strategy very well.”Stefano La Vecchia, founder and CEO of Galileo, added, “We are looking forward to future cooperation under the Dr. Oetker umbrella. Galileo’s business will not change. We will continue to be a reliable, high-performance and innovative partner for our customers.”