Italy: La Doria signs agreement to acquire Pa.fi.al.
La Doria Group, a leading producer of tomato products, preserved vegetables and fruit juice, has announced that it has acquired 100% of the share capital of Gruppo Pa.Fi.al., the holding company of Delfino Spa and Athea Spa.
La Doria Group said the acquisition constituted a significant strategic move which would enable it to strengthen its leadership in the European private label market. As a result of the transaction it said it expected to be the foremost Italian manufacturer of private label sauces and one of the main producers in Europe.
Gruppo Pa.fi.al. operates two plants located in Parma (the Althea business) and Acerra-NA (the Delfino business), primarily manufacturing traditional Italian products such as tomato, meat, pesto, and white sauces but also producing other goods such as salad dressings. The company mainly provides private label goods for key retail chains and has a strong international presence, with 73% of its revenue generated abroad, including in Germany, France, Belgium and Australia.
The transaction is expected to be completed by the end of November.
Source: La Doria