Private equity: 21 Invest takes over Witor's
The Cremona company is one of the leading chocolate producers in Italy
21 Invest, an investment holding founded and led by Alessandro Benetton, has announced the investment in Witor's, a Cremonese company leader in the production of chocolate products. Founded in 1959 by Roberto Bonetti, Witor's boasts a history of over 60 years in the processing of chocolate and a tradition handed down over time that has led the iconic Boero chocolate, a dark chocolate praline with cherry and liqueur created in 1962, to be one of the representatives of Italian confectionery excellence in the world.
Local sources speak of a company valuation of around 100 million euros, but 21 Investimenti has not disclosed either the size of the investment or the share taken over by the Bonetti family.
Today at the helm of Witor's are the founder's sons, Rossano and Michele Bonetti.The company, with a staff of about 220 employees, has a total turnover of around 80 million, of which about half generated in over 80 countries in which is present.
Witor's boasts a portfolio of over 350 products, in which pralines and eggs, the reference segments in which the company enjoys a leading position in Italy, have been progressively integrated with Easter eggs, chocolate bars, snacks, biscuits and creams. spreadable.
A new CEO, Jean Valery Raffard, of French origin but in Italy for over 20 years and with extensive experience in the confectionery sector, will be joined to the current management, as stated in a note from the company.
Alessandro Benetton, President and Founder of 21 Invest, says: "I am convinced that Witor's tradition and innovation will be able to combine with the industrial approach and skills developed by 21 Invest in the world of food. Together we have the opportunity to reach a position leadership in the chocolate market, with a certified supply chain and particular attention to sustainability, elements that are now essential for any successful company".
EFA News - European Food Agency