Fondo Italiano d'Investimento Sgr announces its acquisition of a majority stake in Alimenta Produzioni Srl, an Italian company specializing in the production of piadina, pinsa, and regional savory baked specialties, and one of the leading Italian players in the sector. The transaction is expected to close by the first half of 2026. Financial details of the transaction have not been disclosed.

The transaction, carried out through the Italian Agri&Food Fund (FIAF), a sector vehicle dedicated to supporting excellence in the national agri-food supply chain, is taking place in partnership with the current management team, which will remain at the helm of the company and participate in the investment to support its industrial development and medium- to long-term growth.

Founded in 2013 and headquartered in Riccione, Alimenta is led by founder and CEO Valter Baldacci, along with partners Alberto Fenati and Matteo Federici . It employs 265 people and generated revenues of approximately €50 million in the 2025 fiscal year. In just over a decade, the company has established itself as one of the leading national players in the PGI piadina romagnola market, a segment in which it holds a leading position, gradually expanding its product portfolio to include pinsa and other related product categories.

The company, which primarily serves large-scale retail trade, has developed a solid and structured industrial platform over time, structured around three main production and logistics hubs in Emilia Romagna and Marche.

Alongside its domestic market, Alimenta has progressively strengthened its presence in foreign markets, which today account for over a third of its total revenues, with operations in several European countries—particularly the United Kingdom, Germany, the Netherlands, Poland, and Northern Europe—as well as in Australia and the United States.

This internationalization process has been supported by a significant industrial investment plan that, in recent years, has led to the construction of highly automated and technologically advanced facilities. In particular, the recent launch of the new pinsa production facility has given the company significant production capacity, yet to be fully utilized, creating the conditions for further accelerated growth, especially abroad.

The acquisition of Fondo Italiano is intended to support a new phase of development, helping Alimenta strengthen its international presence, including through its pinsa product, which has seen significant growth in recent years and now represents approximately 30% of the company's revenue, as well as consolidating its leadership in the Italian market. This includes the development of innovative lines, such as those based on Altograno flour, characterized by a high natural protein and fiber content.

This project, in particular, was developed in partnership with Molino Casillo, a historic Apulian company producing premium flours and semolina, of which Alimenta is the exclusive licensee for its product categories. It represents one of the distinctive elements of the company's offering as well as a strategic lever for intercepting new consumer trends oriented towards premium and "better-for-you" products.

The shared growth plan also includes increasing attention to the development of the Ho.Re.Ca. channel, with particular reference to certain strategic geographies, and further industrial investments, including the construction of a new production plant, to respond flexibly to the evolution of the various markets in which the group operates.

Particular attention will also be paid to ESG issues, in line with FIAF's investment approach. Alimenta has already embarked on a structured sustainability journey, demonstrated by the voluntary preparation of a sustainability report, and will continue to strengthen its environmental, social, and governance practices, leveraging the support and experience gained by Fondo Italiano in these areas, to foster responsible and long-term growth.

“Alimenta represents a solid industrial platform, with a distinctive positioning and significant development opportunities, particularly in international markets,” explains Pier Felice Murtas , Senior Partner of Fondo Italiano d'Investimento SGR. “With the current management team led by Valter Baldacci , whose work has been accomplished in just a few years since the company's founding, we share a medium- to long-term vision. Together, we intend to accompany the group in a new phase of its journey, leveraging industrial investments, developing the customer base, and strengthening the organizational structure, while fully leveraging internal expertise.”

Valter Baldacci , CEO of Alimenta, added: "The arrival of a partner like Fondo Italiano d'Investimento represents a key step for Alimenta and allows us to further accelerate investments to support the industrial process already underway. In this context, we will continue to systematically integrate ESG considerations into our operational decisions, as part of an approach geared towards long-term value creation."

With this latest initiative, the Italian Agri&Food Fund (FIAF) continues to implement its investment strategy to support Italian agri-food companies with solid industrial bases, strong product identities, and significant growth prospects, both in Italy and international markets. FIAF already holds the following companies in its portfolio: Corradi e Ghisolfi (Corte de' Frati, Cremona), Pasta Berruto (Carmagnola, Turin), Trinità - Industria Salumi (Vallese di Oppeano, Verona), Scatolificio del Garda (Pastrengo, Verona), and Santangelo Group (Terni).