Vandemoortele, a Belgian bakery company, has successfully acquired Lizzi, an Italian producer and distributor of frozen bakery products, from Forno d’Asolo.
While the financial terms of the agreement remain undisclosed, Vandemoortele anticipates finalizing the deal within the next few weeks, as stated in their official announcement.
Lizzi boasts a diverse brand portfolio featuring sweet and savory offerings such as pastries, patisserie, bread, pizza, and focaccia.
The product lineup encompasses Lizzi pastry specialities, Forno della Rotonda’s sourdough breads and focaccia, along with Spar’s natural breads and Piedmontese delicacies.
According to Vandemoortele’s announcement, Lizzi generates an annual turnover exceeding €70 million ($73.4 million) and employs over 240 staff members.
This esteemed frozen bakery manufacturer operates four production plants across Northern Italy, strategically located in Assago, Caronno Pertusella, Sommariva, and Monticello.
The company distributes its products through both the HoReCa channel and large-scale retail outlets, enhancing its market reach.
This acquisition follows Vandemoortele’s strategic purchase of Dolciaria Acquaviva in June 2024.
Vandemoortele CEO Yvon Guerin stated, “Along with Dolciaria Acquaviva in our group, this strategic acquisition further enhances our presence in the Italian market, aligning with our commitment to delivering exceptional products and experiences to our customers.”
Founded in 1899 in Izegem, Vandemoortele specializes in manufacturing and selling frozen baked goods and plant-based food products.
For the fiscal year ending December 31, 2023, Vandemoortele reported revenue of €1.92 billion.
Moreover, the company experienced revenue growth across its business segments and achieved a 5.7% improvement in net profit despite operating within a challenging economic environment.
Vandemoortele operates in 12 countries across the EU, the US, and Asia.
The company’s Italian operations feature well-known brands such as Agritech (bread), Lanterna (focaccia and pizza), Acquaviva, and Banquet d’OR (croissants), Doony’s (donuts), and Patisserie du Chef (pastries).
Additionally, Vandemoortele manages several production facilities in Italy, including locations in Genoa, Ravenna, and four Acquaviva plants.
Regarding the Lizzi acquisition, Vandemoortele bakery products managing director Peter Boone remarked, “We will be able to offer our Italian customers an even wider range of specialty pastries, artisan breads, pizzas, and focaccias, covering the entire Italian market.”
