Argos Wityu, a pan-European investment group, has officially acquired the Italian bakery manufacturer Monviso. The financial details of this transaction remain undisclosed.
With nearly 90 years of experience in the dry bakery sector, Monviso specializes in producing premium, gourmet, and health-focused products. Located in Northern Italy, the company’s product range includes rusks, biscuits, and bread substitutes.
Monviso caters to various channels, supplying retail, third parties, and the private-label market under its well-known brand, which is recognized as the “third-largest” rusk brand in Italy. The company emphasizes health-conscious options, offering organic, gluten-free, and palm oil-free products that align with food and drink consumer trends.
The strategic acquisition follows Monviso’s previous expansions, which included the 2015 acquisition of Biscotteria Tonon and the purchase of Grissinificio Europa in 2018. Argos Wityu’s managing partner, Jean-Pierre Di Benedetto, commented, “The investment in Monviso is perfectly aligned with Argos’ approach: while it might appear a traditional and mature sector, we believe substantial growth can be achieved if constant innovation is pursued.” He emphasized the necessity for producers to adapt to the evolving needs of final and intermediate clients.
Manfredi Cusmano, the CEO of Monviso, stated, “This partnership will enable us to further strengthen our leadership in the premium bakery market and continue innovating to meet the evolving needs of our customers.” Monviso, which was acquired by Cerea Partners and CAPZA in 2018, operates five production plants and employs over 160 staff in Northern Italy. The company anticipates generating revenues of around €60 million ($63.38 million) in 2024.
Argos Wityu aims to back Monviso’s management team in developing a leading platform within the premium dry bakery market. Under this new direction, Monviso plans to focus on targeting retailers, co-makers, and industrial clients with a diverse premium product portfolio.
Francesco Pugliese, who brings extensive expertise in the food and beverage industry trends, has been appointed chairman. Previously, Pugliese held significant positions as the CEO of CONAD and general manager at Barilla, a leader in pasta and sauces.
This acquisition signifies a notable shift in the food and drink business landscape as Monviso leverages its innovation strategy, enhancing its market position amidst changing consumer preferences and industry dynamics.
