The Valpizza Group, the Italian manufacturer of frozen pizza and pizza crust, has taken over the local companies Ghiottelli C&D and La Pizza + 1.
With the support of the private equity company Aksìa Group, Valpizza, based in Bologna, initially bought C&D, which produces finger food and one-piece frozen specialties. The company then took over La Pizza + 1, based in Piacenza, which produces chilled and long-life products such as pizza, pinsa and focaccia. Financial details were not disclosed.
Aksia took over Valpizza last year. The deals will fuel Valpizza’s growth and reinforce its plans to double sales by 2025 by creating an „integrated pizza hub”.
Valpizza is expected to close in 2021 with sales of around 70 million euros (85.3 million US dollars). In 2019 the company generated sales of around 20 million euros. The company, founded in 1992, produces 80 million pizzas annually under its own brand and for the private label market at home and abroad.
Valpizza said it continues to pursue a plan that focuses on vertical and horizontal integration in the pizza sector. The two new deals follow the takeover of the refrigerated pizza company Megic Pizza last year.
Marco Setti, CEO of Valpizza, said: “This is a relevant acquisition with significant strategic potential for the Valpizza family, which marks another important milestone on its growth path. We are proud to partner with a leader like La Pizza + 1 that has been innovative over the years in both product and process and has achieved results that will add to the success of the group. ”
Marco Rayneri, founding partner of the Aksìa Group, said: “The transaction allows Valpizza to establish itself as a top player in the Italian market and opens up new opportunities for development abroad with the aim of exporting the real Made in Italy quality. ”
Sante Ludovico, CEO of La Pizza + 1, said: „I am very proud to take part in this project with our new partners and to create an all-Italian group that will facilitate the acceleration of our international expansion.”
In both the La Pizza + 1- and the C&D deal, Valpizza acquired the businesses from the founders.
In the case of Bari-based C&D, the founders – the Carbonara family – will continue to hold more than 20% of the company’s shares.