Valeo Foods Group has announced a strategic acquisition of Melegatti 1894, an esteemed Italian producer known for its panettone, pandoro, and croissants.
While the exact financial terms of this transaction with the Spezzapria family remain undisclosed, the implications are noteworthy.
Valeo Foods Group, headquartered in Dublin, stated that this acquisition aligns with its strategy to “expand its baked sweet treats portfolio.” The goal is to provide “authentic Italian confections and established regional brands to a wider international audience.”
Melegatti 1894 was founded by Domenico Melegatti, who famously created and patented the original pandoro in 1894. The company operates production facilities in San Giovanni Lupatoto and San Martino Buon Albergo, both located in Verona.
The Spezzapria family acquired the company from bankruptcy trustees in 2018 for €13.5m (approximately $15.6m).
This marks Valeo Foods Group’s second acquisition in Italy within just a few weeks. In May, the company expanded its presence in Italy by acquiring Freddi Dolciaria, renowned for pre-packaged sponge cakes and Swiss rolls. Additionally, in 2024, Valeo purchased the Italian bakery Dal Colle.
Ronald Kers, CEO of Valeo Foods Group, emphasized that the acquisition of Melegatti 1894 will enhance the company’s “presence in south-west Europe and open new avenues for growth across our global network.”
Supported by Bain Capital, Valeo Foods Group owns a diverse brand portfolio, including Balconi cakes, Pedro confectionery, and Kettle Chips. The company generates revenues exceeding €1.8bn (about $2.12bn) while employing nearly 6,000 individuals across 30 facilities in the UK, Italy, Germany, and the Netherlands.
Roberto Spezzapria, president of Melegatti 1894, stated: “Following the successful relaunch of the historic Melegatti brand in the Italian market, we are proud to entrust its future to the experience and expertise of Valeo Foods Group. We are confident that Valeo Foods will guide the brand into its next phase of international growth while further strengthening its value and honoring its deep roots in Italian culture.”
