Honey, Idea Agro takes over Apicoltura Vangelisti
The family will retain a minority stake. Appointed new CEO
Idea Agro, a private equity fund in Italy entirely dedicated to investments in agribusiness and agricultural development projects, managed by Dea Capital Alternative Funds SGR, has acquired an 85% majority stake in Apicultura Vangelisti Srl, a leading Tuscan company in the processing and marketing of honey, owned by the Vangelisti family, which maintains a minority shareholding.
Founded in 1929 by Pietro Vangelisti, Apicultura Vangelisti is based in Stia (Arezzo) and is a family business with a 2021 turnover of 18 million Euros specialized in the processing and marketing of honey for the confectionery, pharmaceutical and food industries and for the GDO, mainly active in the Italian market. The company's product catalog is very broad, with sales both under its own brand (premium positioning) and as private labels.
The economic terms of the transaction were not disclosed.
"The entry of Idea Agro into the capital of the company - explains a note - is aimed primarily at accelerating the path of organic development, by strengthening the supervision of the channels served and the procurement markets, also through the promotion of an integrated supply chain. of quality Italian honey.
The new CEO of Apicultura Vangelisti is Daniele Bragaglia, a manager with over 30 years of experience in the agri-food industry, of which the last 20 in the sugar and sweeteners sector. Graziano, Sabrina, Ivano and Marco Vangelisti and Tommaso Baglioni commented: "We are satisfied that IDeA Agro has understood the values and development potential of Apicultura Vangelisti, an activity born thanks to the entrepreneurship and vision of our founder Pietro. After more than 90 years of activity of our family in this sector, we perceive that it is the right time to open the capital and we are convinced that together with IDeA Agro we will be able to expand the business of the company, while preserving that fundamental connotation of a strong link with the territory".
Sabrina, Ivano and Marco Vangelisti and Tommaso Baglioni will also maintain operational roles in the company.
Pier Luigi Rossi, Managing Director of IDeA Agro, commented: “In Apicultura Vangelisti we have found the ideal angle to enter the interesting honey processing market. The company has demonstrated resilience in the pandemic period thanks to a consolidated positioning of market. Tradition, competence, quality and supervision of short and integrated production chains are elements that distinguish Apicultura Vangelisti and that we look for in all our investments for the first agro-food transformation. We look forward to contributing to a new phase of development of the company together with the family and Daniele ". Giacomo Drago, Investment Director of IDeA Agro, added: “We are very proud to have contributed to the realization of the first significant private equity operation in the honey sector, which has always been characterized by the presence of family businesses. We will make available to the company all our commitment and the resources necessary to support the growth of this history of excellence, also favoring the consolidation of the sector ".
EFA News - European Food Agency