Investor-backed Italian bakery producer Fornaio del Casale has successfully completed three add-on acquisitions, targeting Castelfood, Figulì, and Dolciaria Ponte Vecchio. These strategic moves align with current trends in the food and beverage industry, underscoring a growing focus on premium products in the food and drink business.
Although financial terms of the transactions remain undisclosed, private equity firm Aksìa, which owns Fornaio del Casale, described these acquisitions as “the first milestone in a buy-and-build strategy aimed at creating a leading group in the premium sweet and savoury snack market.”
Aksìa’s acquisition of a majority stake in Fornaio del Casale from Riello Investimenti and the founding Gecchele family was announced in August. Under this deal, Riello and the Gecchele family reinvested and retained minority stakes, continuing their partnership with Aksìa for this latest phase of growth.
The newly acquired businesses, all family-run entities, were purchased from their original entrepreneurial owners. Gianni Rizzato (Castelfood), Filippo Albertini and Fabio Sartori (Figulì), and Andrea Puccioni (Dolciaria Ponte Vecchio) will reinvest and maintain operational roles within the organization, thereby preserving the family-driven ethos these companies uphold.
Together, Fornaio del Casale and the three newly acquired businesses will operate under a new umbrella entity called Equipe Del Casale Group. Aksìa asserts that this consolidation will create a “scalable and diversified industrial platform,” providing substantial opportunities for cross-selling and commercial development.
Founded in 1969, Fornaio del Casale, based in Casale sul Sile near Treviso, produces under the Gecchele and Antico Casale brands, setting a strong foundation for the group. Each acquisition brings its unique category to the table: Castelfood specializes in cereal, rice, and vegetable-based snacks with a robust international presence; Figulì focuses on organic and natural baked goods, particularly in health-oriented and gluten-free products; and Dolciaria Ponte Vecchio is known for traditional baked goods like cakes and doughnuts.
In response to inquiries from Just Food, Aksìa confirmed that these acquisitions primarily serve retail customers while also producing private-label products. Their main markets include Italy and the UK, with Italy being the largest.
Filippo Anichini, an Aksìa partner, stated, “The group is now embarking on an integration and consolidation process aimed at fully capturing the commercial and production synergies arising from the combination of the different businesses.” He also highlighted ongoing efforts to bolster the strength of the Gecchele and Figulì brands while developing new brand initiatives and expanding their market presence.
On a consolidated basis, Equipe Del Casale Group generates approximately €85 million ($99.4 million) in revenue, aiming for a 10% growth target by 2026. The group operates five production sites, employs 150 people, and sells to over 25 countries, with exports constituting 20% of its turnover.
In terms of individual performance, Dolciaria Ponte Vecchio produces about €5 million in annual revenue, Figulì generates around €7 million, and Castelfood contributes approximately €12 million. These figures position the group competitively within ongoing food and drink consumer trends, highlighting its potential for growth in this ever-evolving market landscape.
