Italy: Pernigotti and Walcor unite in €70 million merger

Italian confectionary companies Pernigotti and Walcor have announced their merger, backed by key shareholders including JP Morgan Asset Management and Invitalia.

The newly formed entity boasts €70 million ($82 million) in annual revenue, over 340 employees, and export sales to nearly 50 countries. Operations will continue at existing plants in Novi Ligure and Pozzaglio ed Uniti.

This strategic move aims to streamline the business structure, broaden the product range, and enhance efficiency through more agile and responsive management, Pernigotti said in a statement.

Pernigotti CEO Franceso Pastore, who has been appointed CEO of the combined entity, commented: “I am honoured to lead Pernigotti at this historic moment”.

“The merger with Walcor is more than a transaction: it is the creation of a confectionery hub that combines tradition and innovation”, he added. “I am committed to leveraging synergies, expanding our global presence, and inspiring our team to achieve new goals.

Source: Walcor