Italy: Italpizza to secure €58m in financing to raise production

Italpizza, the Italian pizza manufacturer, has secured €58 million ($65.8 million) in financing from several sources to boost production at three of its Italian plants, according to reports in Just Food and ESM

The funding will be used to enhance production capacity to around 575 million pizzas by 2028, across the company’s facilities in Modena, Castelbelforte and Mortara.

Commenting on the move, Italpizza Group Andrea Bondioli managing director said: “This financing is part of our group’s broader growth and development strategy: it will enable us to guarantee the financial resources to support all planned strategic advances, always devoting special attention to the issue of research and development”.

Italpizza has an annual turnover of €430 million ($489 milllion), with 60% generated from overseas markets. The company operates seven production facilities, of which five are dedicated to frozen pizza.

Source: Just Food / ESM