Barilla snaps up Canada dry pasta firm Catelli for $130 mln
01/02/2021 09:54
(Repeats to more subscribers)
MILAN, Feb 1 (Reuters) - Italy's Barilla has finalised a
deal to buy dry pasta firm Catelli from Spain's Ebro Foods
EBRO.MC in a deal worth around 107 million euros ($130
million), the two groups said on Monday.
For the family-owned company this is the second acquisition
in less than a month, after it announced a deal to purchase a
majority stake in Britain's Pasta Evangelists. urn:newsml:reuters.com:*:nL8N2JP5L9
With the latest transaction, Barilla will get three brands
of Catelli and a production plant in Montreal, increasing the
Italian group's exposure to North America.
"Given the synergies between our business strategies,
commitments and values, Catelli dry pasta is a natural fit for
the expansion of our business," Barilla Chief Executive Claudio
Colzani said in a statement.
The world's biggest pasta maker also said it planned to roll
out 1 billion euro investments in its home-country between 2020
and 2024.
The money will fund several different projects including
improvements of Barilla's existing pasta production sites and
acquisitions. Last year, the group finalised the purchase of a
pasta plant in the northeast of Italy.
($1 = 0.8272 euros)
(Reporting by Francesca Landini, editing by Louise Heavens)
((francesca.landini@thomsonreuters.com; +39 02 66129437;
Reuters Messaging: reutersitaly.thomsonreuters@reuters.net))