Italian pasta and sauce company Barilla has announced the acquisition of a majority stake in Pasta Evangelists, a startup that delivers fresh pasta meal kits to homes in the UK.
Founded in 2016, Pasta Evangelists delivers boxes of fresh pasta meal kits directly to clients and also distributes pasta and sauces through digital platforms and a physical outlet.
According to Barilla, the acquisition, made through its venture firm BLU1877, represents a step towards international growth and demonstrates its willingness to invest in new marketing and sales approaches, prioritising the digital platform as a way to reach consumers.
“The Covid-19 crisis has changed consumer behaviour, the way people work, and the way products are distributed. The consumer demand for freshly made, premium food is growing, as well as the boom in e-commerce and subscription-based consumer products. We are excited to expand our Family with a brand that underlines these major trends. The UK is at the forefront of both”, said Gianluca Di Tondo, CMO of Barilla Group.
Whilst the terms of the transaction were not disclosed, Reuters reported sources close to Barilla as saying the deal was valued at about £40 million ($54 million).
Sources: Barilla / Reuters