The consortium composed of Latteria Soresina SCA and Zanetti SpA has reached an agreement for the acquisition of 100% of the Saviola SpAthe company based in Bozzolo, producer of Grana and Parmigiano Reggiano with 5 factories and 110 direct employees.
It happens for the first time in the national panorama that a first level cooperative, Latteria Soresina, and an entrepreneurial joint-stock company, Zanetti SpA, join forces to conclude an important corporate acquisition, with an innovative agreement model.
Soresina Dairy with his 518 million euros in consolidated turnover is the largest cooperative in the Italian dairy world, world leader in the production of Grana Padano and recognized for excellence such as butter, provolone, packaged milk, gorgonzola and Parmigiano Reggiano.
Zanetti SpA founded in 1900 and controlled by the family, it is the largest seller and leading exporter of Grana Padano and Parmigiano Reggiano as well as other Italian excellences, with a turnover of over 680 million, 70% on foreign markets in 108 countries. For size it is about an operation of primary importance in the dairy world and in particular in the markets of DOP hard cheeses such as Grana Padano and Parmigiano Reggiamo.
The acquired Saviola SpA on the other hand, with its turnover of over 143 million (closing estimate) achieved mainly through the sale of Grana Padano and Parmigiano Reggiano, has long been a primary player in these markets.
The President of Latteria Soresina Tiziano Fusar Poli: “As with all our acquisitions, this is a strategic operation for us aimed at the industrial growth of Latteria Soresina. Dealing with i increasingly concentrated markets and that they need investments in innovation, sustainability and efficiency means integrating ourselves with new resources consistent with our corporate lines to equip ourselves and give continuity to our over 124 years of history. The assets that will be contributed by Saviola will be very important in order to pursue our mission and our strategies.”
Comments the General Director of Latteria Soresina Michele Falzetta: “Technically it is an agreement finalized on April 17th, through a new synergistic model between the industrial and cooperative worlds. Pragmatic model that overcomes prejudices but which focuses on the result, also by virtue of a continuously concentrated dairy market”.
This is a strategic operation aimed on the one hand at consolidating the presence in the national and international markets of Latteria Soresina and Zanetti of high added value products which by definition guarantee the use of Italian milk and on the other allowing Saviola to continue his business supported by two highly respected entrepreneurs in this sector.
From a management point of view, Latteria Soresina and Zanetti will collaborate in the management of Saviola through a defined corporate organization with the aim of supporting, with their specialized entrepreneurial skills in the sector, the management and development of Saviola in continuity with the current management.
Latteria Soresina closed the consolidated turnover of 2023 with almost 518 million euros, recording an increase of 3% compared to the consolidated turnover of the previous year.
In 2023, the Zanetti group recorded a consolidated turnover of approximately 690 million euros, up 6.5% compared to the previous year.
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Tags: Latteria Soresina Zanetti Spa acquire Saviola
