Premium UK pizza company Crosta Mollica has combined with the European pizza operation Nestlé separated from the group three years ago through a transaction involving private-equity firm PAI Partners.
The London-based business said the merger with European Pizza Group (EPG) would create a food company with retail sales of €1bn ($1.1bn). Crosta Mollica operates at the premium end of the UK pizza market.
EPG’s brand portfolio includes Wagner and Buitoni, and the company supplies products to 10 European markets. Its manufacturing “operations” are located in Germany and Italy.
To reinforce its ‘Made in Italy’ positioning, Crosta Mollica works with a co-production partner in Italy, the country widely recognised as the home of pizza.
Pizza is the company’s biggest revenue contributor, alongside a wider portfolio comprising garlic bread, pasta, Italian flatbreads, desserts and amaretti biscuits.
Financial statements submitted to Companies House for the year ending June 2025 showed turnover had climbed to £67.6m ($89.7m), compared with £49.2m in the prior year.
Operating profit rose from £4.2m to £7.6m, while net profit more than doubled, reaching £8.1m from £3.3m.
In a statement issued today (23 September) announcing the deal, Crosta Mollica said retail sales had increased to €270m from €90m since Milner and current CEO Tom Sirett joined the company in January 2024.
Milner said today: “Wagner and Buitoni are strong brands with excellent positions across Europe. Bringing them together with Crosta Mollica creates a highly complementary portfolio.
“Our focus will be on building on the strengths of each business while using the scale and capabilities of the combined group to accelerate growth.”
Crosta Mollica and EPG will retain their individual operations following completion of the transaction, while Milner will become CEO of the newly combined group.
Sirett will continue in his role as chief executive of Crosta Mollica, and Matthias Casanova will remain CEO of EPG.
“There are no short-term plans to change the operating model of either company,” according to the statement, which added the “merger happens at a time of significantly favourable tailwinds in the European pizza market”.
European private-equity investor Perwyn, which invested in Crosta Mollica in 2024 when Milner joined the business, will remain involved in the enlarged group. Nestlé and PAI Partners will also continue to have interests in the company.
When Nestlé announced the separation of its European frozen pizza assets in 2023, it said it would “retain a non-controlling stake” alongside PAI Partners.
At that point, Nestlé’s European pizza division was reported to have annual turnover of SFr400m ($485.9m today), with products supplied across markets including Germany, Italy, France, Spain, Switzerland and Portugal.
Nestlé also has a separate ice-cream joint venture with PAI Partners through UK-based Froneri.
