Italy: Granarolo acquires majority stake in Venchiaredo

Granarolo, an Italian dairy company based in Bologna, has announced it is acquired a majority stake in Venchiaredo, a specialist maker of stracchino cheese.

Founded in 1968, Venchiaredo has a product range that includes Venchiaredo stracchino cheese, Friulan stracchino, and Venciaredo Fresh. The company reported turnover of €26.9 million ($30.42 million) in 2018, up 18% on the year before.

The deal sees Granarolo increase its stake Venchiaredo from 24% to 57.5%.

Commenting on the deal, Venchiaredo president Alessandro Driussi said: “Our integration into the Granarolo Group will enable us to continue on our growth curve, targeting annual production of 9,300 tons of stracchino cheese”.

Granarolo president Gianpiero Calzolari added: “This deal has already yielded significant results and synergies at the industrial level for both companies, and allows Granarolo to follow up on its 2019/2021 business plan which provides, among other things, for greater production efficiency and greater plant specialization”.

Source: Granarolo (via Ruminantia) / Food Business Africa / FoodBev