Italian mineral water company Ferrarelle has acquired a 99% stake in Amedei, an artisan chocolate maker.
According to sources, the acquisition includes the shares that were bought by the Octupus Europe Limited fund in 2015.
Amedei founder Cecilia Tessieri will retain a 1% stake in the business “in order to ensure continuity in the quality and uniqueness of research that has made Amedei a world-renowned brand for its excellence in the selection and processing of cocoa”, according to a company statement.
The Tuscan-based chocolate maker manufactures products ranging from bars to pralines, drops, chocolate flakes and spreads.
Ferrarelle said it would further invest in Amadei’s Pontedera production unit through its “know-how in industrial capacity and commercial organization”, adding that its goal was to develop the brand worldwide through its own distribution channels.
Amadei, which already exports 40% of its production, reported turnover of €3 million ($3.5 million) in 2016.
Source: Ferrarelle (via Ansa) / ESM