France: Nestle sells plant to Italpizza

Italpizza, the Italian frozen pizza firm, has completed the acquisition of a Nestle pizza facility in Caudry, northern France.

The company is said to be planning to invest more than €12 million ($13 million) as part of a comprehensive modernization of the facility, which was closed down after an E. coli outbreak in 2022 reportedly led to a sharp decline in sales.

Presently operating in over 50 countries, Italpizza is said to be aiming to strengthen its strategic position across Europe, with its main focus being the manufacture of private label products for key retailers.

Commenting on the move, Italpizza president Cristian Pederzini said: “Our three-decade-long presence in France, catering to major retail chains, underscores our commitment to the region. The acquisition of the Caudry facility, strategically positioned and economically attractive, is pivotal in our overarching internationalization strategy”.

“Establishing a production hub in northern Europe enhances our competitive edge in product distribution, aligning seamlessly with our ongoing global expansion initiatives”, he added.

Source: Italian Food / Reuters / Italpizza