La Doria, the investor-backed Italian food group, has acquired sauces and pesto business Clas. Majority-owned by a unit of private-equity firm InvestIndustrial since 2022, La Doria has reached an agreement with another investor, Equinox in Luxembourg, to purchase 90% of Clas, with the remaining 10% bought from Italy-based agri-food group Cominter. The acquisition price remains undisclosed.
Based in the Chiusanico commune in Liguria, Clas reported a turnover of €75m in 2023. Founded in 1989, the company specializes in producing Italian pesto, ready-made pasta sauces, and condiments for private-label customers. Operating from a single production site in Chiusanico with around 150 employees, Clas has offices in Germany, France, and the UK, with 90% of its sales coming from the international market.
La Doria’s expansion strategy involves mergers and acquisitions, as it supplies a range of products such as canned pulses, tomatoes, ready-made soups, canned pasta, and fresh juices. In 2004, the company acquired Sanafrutta to enter the fresh juice market.
Chairman and CEO Antonio Ferraioli expressed confidence in the Clas acquisition, stating that it marks a significant milestone in La Doria’s growth strategy. Massimiliano Monti, a partner at Equinox, highlighted the firm’s investment in Clas and its handover to a global operator like La Doria.
La Doria, established in 1954, operates six production plants in Italy and focuses on own-label products for major retailers. The company also owns brands such as La Doria, La Romanella sauces, Cook Italia prepared meals, and Vivi G juices, with key export markets including the UK, Germany, Scandinavia, Australia, and New Zealand. In addition to its private label business, La Doria formed a joint venture with UK’s Gerber Foods in 1997 and later acquired the business entirely.
Financially, La Doria reported a 20.6% revenue increase in 2023, with detailed results for the first quarter of 2024 showing a 3.8% revenue growth to €319.6m. The company reported an adjusted EBITDA of €42m and a net profit increase of 24% to €25.8m over the previous year. The acquisition of Clas is expected to further strengthen La Doria’s position in the private label ambient pesto market and the co-packing sector.
