Less and less food on Milan stock exchange
Delisting for Ima and Massimo Zanetti Beverage Group
After 25 years of listing, Ima, the multinational of automatic machines and packaging of Ozzano Emilia leaves Milan stock exchange after the success of the takeover aimed at delisting launched by the shareholders (the Vacchi family and the BC Partners private equity fund recently entered the shareholding structure, see EFA News article of 29/7/2020). Ima is not strictly a food company, but is strongly linked to the supply chain for the machinery and packaging systems it supplies, and to the production division of machines for the coffee industry.
"Today IMA Spa exits the Milan Stock Exchange", explained CEO Alberto Vacchi . "The tender offer was successfully concluded, with a percentage of remaining shares equal to 1.8%, an indication that the market has considered fair evaluations of the majority shareholders with respect to the offer. I take this opportunity to thank all the players in the market, large and small shareholders, financial analysts and others, who have followed and enhanced IMA's industrial choices in recent years. In my opinion, the listed experience has been for almost half of IMA's life, which this year will celebrate the 60th anniversary of its foundation, a formative and stimulating experience. Now IMA, with its new partner BC Partners, always with control of the historic group that founded and led IMA, will launch an ambitious technological innovation project to increase its competitiveness on the markets".
Similar path for Massimo Zanetti Beverage Group, the company from Villorba (TV) that had landed on the Milan price list in 2015. The Opa, launched on 29/9/2020 from a vehicle controlled by the Zanetti family, also in consideration that "the listing would not have allowed the group to be adequately valued", should lead to the delisting of the company around mid-February.
EFA News - European Food Agency