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Idb Group: growing sales and double-digit exports

Rovigo's confectionery company invests 2 million euros in the production of UHT muffins

Industria Dolciaria Borsari (Idb Group) closes 2023 with a growing balance sheet, in line with expectations and the start of a new production line. Last year, the group totaled revenues of 71 million euros, up 5%. The same percentage is recorded for the special occasion sweets sector, which in 2023 recorded growth in value of +5%. "With our flagship brand, the historic Milanese brand Giovanni Cova & C. we have achieved +11% and it is the signal that indicates how our choices in terms of raw materials, production methods, recipes and investments in communication have been appreciated by the market", underlines Andrea Muzzi , CEO of the Idb group.

Consolidated for years in the pandoro, panettone and colombe market, the Rodigiano company has decided to invest 2 million euros for a production line dedicated to UHT muffins. "It is a product that is appreciated all over the world, adults and children alike like it and can be found in every corner of the planet, in South America as well as in Japan", Muzzi further explains. "If we look only at the domestic market, the UHT muffin segment is currently the one that is performing best, with a volume growth of +16.7%, demonstrating another potential for the near future".

“Our objective is to bring fine pastry making into everyday consumption occasions, covering the brands of large-scale retail trade with continuous products that can be present on shelves for 12 months, generating value through a premium offer that we believe is currently absent. With this Giovanni Cova & C. brand line", continues Muzzi , "recognized as synonymous with Milaneseness, mastery in the art of pastry making and an obsequious respect for traditional recipes, we aim to acquire a 10% share within of the Muffin segment and to reach revenues of 5 million by 2030”.

Another significant figure is represented by exports, which, in the period from Easter to Christmas 2023, recorded a double-digit increase in sales (+18%), thanks in particular to the results obtained in Spain, the United States and Australia. The results of the Eastern European markets, which have long been watched with particular interest by the Idb Group, were also good.

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EFA News - European Food Agency