ITAGO and the minority shareholders have signed a binding agreement for the sale of Panificio San Francesco (“PSF”), a leading Italian company active in the production of frozen bread for the large-scale retail channel, to Lantmännen Unibake (the “Group”), an international bakery group and one of the leading players in the European baking sector, with approximately €1.5 billion in net sales, owned by the Swedish agricultural cooperative Lantmännen.

Founded in 2006 and grown into a reference specialist in the high-quality industrial bread segment, Panificio San Francesco has established itself over the years as a reliable partner for large-scale retailers thanks to a broad product offering, high quality standards, and a strong focus on production efficiency and food safety.

For ITAGO, the investment in PSF aimed to support the company along a path of industrial and organizational strengthening, optimization of production processes, and consolidation of commercial relationships with leading modern retail operators. This path contributed to a stronger competitive positioning in the Italian market, resulting in a doubling of revenues compared to entry and profitability above industry standards, also supported by a significant technological and digital investment plan aimed at doubling production capacity.

The entry of PSF into the Lantmännen Group represents the natural outcome of a solid and coherent industrial growth path. The transaction in Italy reflects the Group’s ambition to build a strong platform for long-term growth and supports the objective of further strengthening Lantmännen Unibake’s position in the European bakery market.

Vitale acted as financial advisor to the sellers, offering support in the structuring of the transaction, in the negotiation phases and in the coordination of due diligence activities.
 

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