Newlat takes a piece of Plasmon

While the rising stars of Made in Italy food end up in the multinationals operating area, a “piece” of Plasmon, synonym for baby food since 1902 and member of the Heinz group since the sixties, returns to Italy. The American company, merged with Kraft last March, sold the factory in Ozzano Taro to Newlat owned by the Salernitano businessman Angelo Mastrolia who, thanks to this purchase, surpassed the 400 million threshold with the group turnover with even greater determination to the Stock Exchange quotation, a project for which it has been working for the last two years.

source: Il Sole 24 Ore date 06.10.2015

Yesterday morning, according to Sole 24 Ore market sources, Kraft Heinz and the Newlat Group signed the deal to transfer the factory in the province of Parma, producing the famous Plasmon biscuits but also pasta, flour, oil and freeze-dried chicken, for a total of 170 employees. In addition to Plasmon, the Nipiol, Bialgut and Aproten branded products leave this factory. The value of the assets involved in the transaction is 30 million. Newlat also intends to invest more than 20 million in the factory in the next five years. Taking over Ozzano Taro, the company will make its début in the baby food sector where it previously did not operate. Kraft Heinz will sell the factory products and consequently guarantee, in the medium-long term, substantial job orders for the facilities. The information from this morning will be officially announced at the Parma Industrial Union headquarters to Fai, Flai and Uila representatives to open discussion on the business division sale ex article 47 of Law 428/90. This all leads us to believe that, should Kraft Heinz take the sale of the Plasmon brand and other Italian factory in Latina, where 350 people work, into consideration in the medium term, Newlat Group would be one of the leading candidates to take over the entire package. Mastrolia’s group, an industrial group whose portfolio includes brands such as Polenghi Lombardo, Giglio, Optimus, Ala, Matese and Torre in Pietra, producing Buitoni brand pasta and melba toast (in 2008 the licensing agreement signed with Nestlé, at the purchase of the Sansepolcro factory), exports to something like 70 countries and is the market leader in the German pasta market, thanks to Birkel, and 3 Glocken, purchased two years ago, and to Buitoni, continues to shop around. With the last transaction, the number of group employees exceeds one thousand, sales have peaked over the 400 million threshold and Ebidta soared over 40 million. All steps that, according to market sources, would speed up the Newlat Stock Exchange quotation project on which Mastrolia has been working for at least two years, with Unicredit as its financial advisor. Rumour has it that 2016 could be the key year, with two options: the Milan or Frankfurt stock markets. And to think that just ten years ago the group pushed a 20 million turnover. Then seven take-over deals were signed to bring the industrial group into the European dimension. And now Newlat’s figures are beginning to make it appealing to investors’ eyes.

Categories: Grocery News

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