Berenberg expects MARR to capitalise on sectoral tailwinds in Italy, initiates 'buy' coverage

Marr SpA

26/02/2025 08:55

** Berenberg initiates coverage of Italy foodservice distributor MARR MARR.MI with "buy"

** MARR shares are up 4.5% at 08:53 GMT

** MARR's business model is well-positioned to capitalise from the sectoral tailwinds it expects in Italy, the brokerage says

** Consumer spending normalisation in Italy will drive a recovery in the sectoral demand in late 2025, resulting in a mid-single-digit foodservice CAGR to 2029, it adds

** MARR's market share of around 17% is "dominant" in Italy, standing out in a highly fragmented market mainly characterised by small regional distributors, it notes

** Recent strategic investments on logistics, distribution hubs and automation are expected to further improve operational efficiency and support margin expansion, it says

** Out of 6 analysts that cover MARR, four rate the stock "strong buy" or "buy", ​two rate "hold"

 (Reporting by Philippe Leroy Beaulieu)

 ((philippe.leroybeaulieu@thomsonreuters.com))