Food and Beverage Business

Ownership of Italy’s Salpa & Cherubini Biscuit Maker Transfers with Majority Stake

Ownership of Italy's Salpa & Cherubini Biscuit Maker Transfers with Majority Stake confectionery, Frozen, ice cream, Shelf-stable Food and Beverage Business

Salpa & Cherubini, an Italian ice-cream sandwich and biscuit maker, has experienced a change in majority ownership. Luxemburg-based private-equity fund Equinox has sold its 63% stake in the Perugia-based business to the pan-European investment firm Apheon for an undisclosed fee. The Cherubini family will continue to own the remaining 37% stake.

Founded in 1934, Salpa & Cherubini owns Break & Go, an ice-cream sandwich brand, and gluten-free biscuit operation Kèlinea. The company also supplies its products to major food companies, including Nestlé and Unilever.

The new partnership with Apheon enables Salpa to focus on accelerating growth in the US, which is a market of strategic importance for the company. Maria Rita Cherubini and Abramo Cherubini said, “We thank the Equinox team for the successful collaboration over the last few years and recognize in Apheon a partner capable of offering strategic guidance and capital for a new phase of growth.”

Salpa & Cherubini owns three production sites in Italy, covering an area of around 90,000 square meters, and employs around 250 people. This new phase of growth will build on the great organic growth achieved over the last few years, laying the foundations for the next phase of expansion of the business. Equinox has identified Apheon as the ideal partner to accompany the family and the company on this journey, aiming to extend Salpa’s leadership position on a global scale.

Apheon’s other food companies in its portfolio include Italian business-to-business frozen bakery firm Dolciaria Acquaviva and Vanreusel, a frozen meat-based snacks company.

This new ownership change is the beginning of a new chapter for Salpa & Cherubini. The partnership with Apheon will enable them to grow and enter new markets, innovate, and reach new goals, excitingly embarking on this next phase of expansion.

“The entry of Apheon into the capital will allow Salpa to further accelerate growth in the US,” a company statement said. This strategic move comes at a time when Salpa is poised to extend its reach and position itself as a leader in the global food and beverage industry trends and consumer trends.

Salpa & Cherubini looks forward to this new chapter with enthusiasm and confidence, eager to continue growing and reaching new heights in the food and drink business.

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