Italian and international companies are eyeing the acquisition of Italian savory snacks company Preziosi Food, which is being put up for sale by private equity funds Bertis and Hutt.
According to a report in an Italian daily newspaper Il sole 24 ore, the list of potential buyers includes Italian snack companies San Carlo and Pata. Irish multinational Valeo Foods (owned by Bain Capital); Intersnack is a German snack food manufacturer. and the American multinational company PepsiCo.
Expressions of interest will be collected shortly and exploratory powers from current shareholders will be in the hands of financial adviser Houlihan Lokey, the report said.
Preziosi Food Group, which was part of the Italian toy group Giochi Preziosi until 2016, began sales in mid-December 2023. The exploratory task has been entrusted to financial advisor Houlihan Lokey by the current shareholders.
Once all expressions of interest have been collected, a file containing Preziosi Food’s financial data will be sent and a non-binding offer will be made.
preziosi hood
Preziosi Food, based in San Nicola di Melfi, operates in a recently renovated 15,000 square meter factory and produces more than 700,000 bags of crisps every day for major brands and major retail chains in Italy and Europe.
The company’s products are sold to more than 1,000 customers, including shops and bars in Italy and in more than 90 countries.
Preziosi Food will have sales of 84 million euros in 2023, compared to 50 million euros three years ago, with profit margins doubling.
The company’s new business plan and refocus on its business, 70% of which is private label, are among the reasons for this performance.
read more: Private label market share in Italian retail reaches record high