Food and Beverage Business
Finance

Gelato d’Italia of Italy Acquires Giuntoli Assets from Administration

Gelato d’Italia of Italy Acquires Giuntoli Assets from Administration Frozen Food and Beverage Business

Italian-based Gelato d’Italia has acquired the assets of local ice lolly maker Giuntoli to strengthen its position in the food and drink industry. The purchase includes the brand, plants, and production assets of Tuscany-based Giuntoli, positioning Gelato d’Italia as the largest player in the water ice category. The financial details of the deal were not disclosed.

According to Gelato d’Italia CEO Marco Pellegrino, the company intends to retain the staff of the acquired company, further solidifying its foothold in the Italian market. Pellegrino stated, “This first step strengthens our position in the Italian market, thanks to a greater production capacity which will allow us further growth.”

Matt Frost, Gelato d’Italia’s operating partner, emphasized that the transaction to acquire Giuntoli’s assets “has been long in the making.” Moreover, the company is now “gearing up for more acquisitions in Europe and North America to further grow [its] capabilities and expand [its] market reach.”

Gelati Giuntoli’s brand portfolio includes popular brands such as Giuntoli and Tutta Natura. Gelato d’Italia is a co-producer and private-label manufacturer that sells in European and North American markets. The company’s website states that it produces 7.6 million popsicles a year.

In July 2022, Davidson Kempner Capital Management, headquartered in New York, and Turkey-based Afendis Capital Management signed a “definitive agreement” to acquire Gelato d’Italia for an undisclosed sum. The deal is part of Gelato d’Italia’s efforts to expand its market presence and capabilities within the food and beverage industry.

Additionally, Gelato d’Italia is dedicated to pursuing more acquisitions in the future, with plans to further grow its capacities while meeting consumer demand in the food and drink business.

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