Italy: Newlat acquires pasta firm Delverde

Delverde, an Italian food company specialising in premium-positioned pasta, has been acquired by Italian food company Newlat, according to reports in ESM and Il Sole 24 Ore.

Delverde is being acquired from leading Argentine food firm Molinos Rio de la Plata  for €9.25 million ($10.45 million), reportedly as part of Newlat’s strategy of acquiring historic Italian food brands from overseas multinationals.

Based in Fara San Martino in Italy’s Abruzzo region, Delverde was founded in 1967 and highlights its use of spring water “filtered by non-contaminated 7 million-year-old rocks” that is “not only extremely pure but naturally cold at 8 degrees Celsius”.

Newlat’s other previous deals include licence agreements with Nestle for the Pezzullo and Buitoni brands, the acquisition of the Newlat and Polenghi brands from Parmalat, and the purchase of the Birkel pasta brand from Ebro Foods.

Source: ESM / Il Sole 24 Ore / Delverde