Lantmännen has announced a strategic acquisition of the Italian frozen bread manufacturer Panificio San Francesco. This move is part of the Swedish cooperative’s commitment to enhancing its competitive position in the food and beverage industry trends.
Through its baking subsidiary, Lantmännen Unibake, the company will acquire Panificio San Francesco for an undisclosed amount. This acquisition is expected to provide significant commercial and innovation opportunities once finalized.
Panificio San Francesco, which has been operational since 2006, specializes in pre-baked and frozen bread products catering to the Italian market. The company operates an industrial plant in Codevilla, located south of Milan, employing approximately 80 staff and boasting an annual production capacity of 26,000 tons across two production lines. Its majority stake is held by private equity firm ITAGO through its NEIP III SICAF investment fund.
In a recent statement, Lantmännen emphasized the importance of this acquisition for reinforcing its position in an attractive market. “The acquisition offers opportunities for growth and aligns with our strategic goals within the food and drink business,” said Magnus Kagevik, group president and CEO of Lantmännen. He further elaborated that this agreement in Italy is a crucial step toward establishing a robust platform for long-term growth in the European bakery market.
The completion of this transaction is anticipated “at a later date” and awaits regulatory approvals and closing conditions. In a concurrent statement, Domenico Tonussi, managing partner at ITAGO, remarked that this deal signifies a natural progression in industrial growth and aims to foster a new developmental phase.
This acquisition follows Lantmännen’s recent purchase of Boboli Benelux, a Dutch maker of savory baked goods, a transaction that the company described as a “cornerstone” for its expansion into the savory sector. Earlier, in May, Lantmännen announced a considerable investment of around Skr700 million (approximately $73 million) to enhance its bread business in a new facility in Örebro, Sweden.
With its products sold in over 60 markets worldwide, Lantmännen Unibake includes well-known brands such as Schulstad, Pastridor, and Hatting, employing around 6,000 individuals.
In conclusion, as Lantmännen continues to adapt to evolving food and drink consumer trends, its strategic decisions will undoubtedly position the company for sustained growth in the competitive landscape of the food and beverage industry.
