Bakery: Morato completes a new acquisition in Spain
Detected Cerealto-Siro, a production plant in the north of the country
The Morato Group completes its second acquisition abroad: the financial transaction is part of the strategic plan for expansion in Europe, and confirms the company's desire to concentrate its business on the bakery market.
After the first acquisition of a Spanish company specialized in the production of packaged breads signed in 2020, the Italian Morato Group takes another important step towards consolidating its role as a player in Spain, taking over a production plant in northern Spain from Cerealto-Siro, in Briviesca.
“The development of the Spanish business - declares Stefano Maza, CEO of the Group - is one of our strategic priorities and represents an extremely potential market, which we already manage today as a supplier of Mercadona for some product categories. The operation was possible thanks to the participation of the Casalini Group, a leading industrial company with an important know-how in the bakery market that will substantially contribute to the growth of the Spanish company ".
The Briviesca-based company, with its 10 production lines on 34,000 square meters of plant, is able to produce various types of bakery products, with a turnover that today stands at around 35 million euros and brings Morato Group with a consolidated turnover in Spain of 65 million. For Morato, this operation follows the direction of developing at least 50% of its turnover abroad, strengthening its presence on the markets in which the company is already present but above all opening up other opportunities in Europe.
The Morato Pane Group and the Casalini Group made use of the consultancy of Aliante Partners as strategic advisor and of the Chiomenti firm for legal assistance. Financial and tax due diligence was followed by Deloitte.
Morato today is an international reality and represents the second player in the industrial bakery market in Italy and Spain, with a consolidated turnover of approximately 250 million euros, of which over 30% developed abroad. The position in the Italian market is supported by a portfolio of historical brands and by a product offer able to cover all segments within the category of savory bakery, in addition to the presence of the B2B and Private Label business world. partnership with major European retailers.
In its 12 factories located between Italy and Spain, the Group produces sliced breads (sandwiches, cassettes, tramezzini), bruschetta, sweet and savory sandwiches and wraps; in addition, it produces crunchy bread substitutes, primarily including bread sticks and croutons. Considering both the brand and private label business, in Italy the company holds a volume market share of over 30% in industrial breads and 10% in the breadsticks segment; moreover, with its main brands, Morato and Roberto can boast the leadership in Italy in many segments of the savory bakery.
EFA News - European Food Agency