Italy: Casalasco (Società Agricola) acquires 73.8% of Emiliana Conserve
- François-Xavier Branthôme
The Antitrust Authority has given the green light to the acquisition of Emiliana Conserve by Consorzio Casalasco del Pomodoro. To be more precise, the Casalasco Agricultural Society, a new joint stock company incorporated in 2021 thanks to a major transaction finalized with the QuattroR fund, has been authorized to take over part of the Emiliana Conserve capital. The decision, made official on April 26, was taken on April 5. A notice of the transaction was published in March.
The announced transaction consists of the acquisition of 73.86% of the share capital of Emiliana Conserve. "The parties have estimated that the overlap between the two companies' market shares in the production and sale of canned tomatoes is less than 15%. In any case, since Emiliana Conserve produces exclusively canned tomatoes sold under private labels, the transaction does not produce an overlap in the partners' sales under their own brand."
Moreover, as noted by the AGCM (Autorità Garante della Concorrenza e del Mercato), many competitors are present and active on the same market: Mutti, Barilla and the big retail chains with their own brands account for a total of about 30%.
Emiliana conserve, founded in 1985 in Busseto (Parma), is the largest private company in northern Italy producing tomato products for private labels, with two production plants (in Busseto and San Polo di Podenzano, in the region of Piacenza), and approximately 250,000 tonnes of raw tomatoes harvested in the northern Italian basin and processed every year. The company counts many prestigious Italian and foreign brands among its customers.
According to data provided by the Consodata Company Report, revenue rose from EUR 71.7 million in 2019 to 80.9 million in 2020, reaching EUR 102.8 million in 2021.
As for the Consorzio Casalasco, it closed its last general meeting of shareholders with the approval of a balance sheet featuring an increasing turnover of around EUR 350 million, generating 70% of its income on European and non-European export markets. The company has 7,600 hectares planted with tomatoes, 560 associated farms, and a processing capacity of over 560,000 tonnes of raw tomatoes.
Sources: distribuzionemoderna.info, italianfoodtoday.it, agcm.it
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