Spigadoro Acquires Gazzola to Become Leading European Pasta Manufacturer
Based in northern Italy, Gazzola had 1999 sales of approximately $46 million. Gazzola exports approximately 75% of its products throughout Europe, and has a particularly strong presence in Italy, France and Germany. The addition of Gazzola's sales will more than double Spigadoro's current pasta and flour division sales and its production facility will increase total pasta production capacity threefold. In addition, it is anticipated that Spigadoro may reallocate production as necessary between its two pasta facilities to further enhance efficiencies.
"We are very excited to add Gazzola to the Spigadoro group", said Jacob Agam, chairman and CEO of Spigadoro. "Private label pasta is among the most attractive and fastest growing segments of the pasta market and this acquisition establishes Spigadoro as the European leader in the private label sector," he added.
Carlo Petrini, co-chairman of Spigadoro, added: "We believe that Gazzola's strong presence in France and Germany will create opportunities for Gazzola and Petrini to cross-market their products throughout much of Western Europe."
Spigadoro is a leading manufacturer of branded products in the Mediterranean food sector. Its pasta and other Mediterranean products are marketed under the brand name "Spigadoro" in Italy, Europe, the U.S. and the Far East. The company's animal feed products are manufactured at seven plants throughout Italy and are marketed under the "Petrini" name.