Leading European sweets and snacks producer Valeo Foods has announced the acquisition of Freddi Dolciaria, an Italian producer of sweet bakery products.
Founded in 1949 and based in Castiglione delle Stiviere, Freddi Dolciaria produces pre-packaged sponge cakes and Swiss rolls and generates nearly €20 million ($22.2 million) in annual turnover.
Commenting on the move, Valeo Foods Group CEO Ronald Kers said: “Freddi Dolciaria is a fantastic addition to the Valeo Foods portfolio, which already includes some of Europe’s most established and beloved cakes. Commercially, this move strengthens and broadens our product range, introducing exclusive, global licencing partnerships with leading CPGs and expanding our healthy and ‘free-from’ offerings”.
“As Freddi Dolciaria joins our portfolio, we enhance our manufacturing and logistical capabilities, adding an additional, well invested, flexible facility to support our ambitious growth plans”, he added. “This marks the next step in our vision to establish Valeo Foods as the leading European champion in sweet treats”.
The acquisition will also support the ongoing expansion of Balconi in Southern European and international markets, Valeo Foods added.
Source: Valeo Foods