Granarolo acquires majority stake in Italian company Venchiaredo
The Company is specialized in the production of stracchino cheese
Italian dairy company Granarolo has bought a majority stake in cheesemaker Venchiaredo for an undisclosed sum. The deal sees Bologna-headquartered Granarolo increase its stake in the company from 33.5% to 57.5%.
Based in Ramuscello in northeastern Italy, Venchiaredo specialises in the production of stracchino cheese. Last year, the firm had a turnover of €26.9 million, up 18% on the year before. With 80 employees, the company processes around 36 million litres of milk per year, 30% of which is organic.
"We continue along the path traced last year with Venchiaredo S.p.A. - declared Gianpiero Calzolari, President of Granarolo SpA - The operation has already produced important results and synergies on the industrial level for both, and allows Granarolo to follow up on the 2019/2021 Business Plan which provides, among other things, greater production efficiency and greater specialization of the establishments. We are also happy to be able to add the 49 members of the Venchiaredo Cooperative who supply 250,000 tons / year of milk to the Granlatte supply chain. Thus the presence of Granarolo in a region with an important productive vocation is growing".
Venchiaredo president Alessandro Driussi said: “With the integration into the Granarolo Group, we will continue on the path of growth of Venchiaredo, aiming for an annual production of 9,300 tons of stracchino.”
Granarolo initially acquired a 24% stake in Venchiaredo in 2017 after Swiss company Emmi sold its remaining stake in the company. In total, Granarolo has 14 production sites located in Italy, two in France, three in Brazil and one in both New Zealand and the UK.
© EFA News - European Food Agency Srl