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Italy: Mutti finalises the acquisition of Co.Pad.Or

12/12/2017 - François-Xavier Branthôme - Read in French
According to Ansa, Italian tomato processing company Mutti has announced that it is acquiring Consorzio Padano Ortofrutticolo (Co.Pad.Or.) for Euro 25 million.

In April of this year, Mutti won the auction for the lease of Co.Pad.Or., ensuring the continuity of production, which reached 2.10 million quintals, with the commitment to take over the cooperative at the end of its 2017 tomato campaign. 
Co.Pad.Or is a consortium of farmers from the Parma and Piacenza provinces, and cultivates around 4,000 hectares of tomato annually.
It is reported that this acquisition has now been finalised.

Mutti is one of the leading tomato processors in Italy, with a market share of 28%, and the company is targeting €300 million in turnover this year.
The Parma-based company is present in 83 countries, with the main markets being France, the Nordic countries, Belgium and Germany. Exports account for 33% of the group's total turnover, and are growing yearly in double digits.

Sources: Ansa, European Supermarket Magazine

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