Italian dairy brand Granarolo Group has acquired 100% of UK-based chilled and frozen food distributor Midland Food Group, which will join Granarolo’s UK division.
Granarolo will acquire both of Midland Food Group’s UK manufacturing facilities in Willenhall and Basingstoke, which produce cooked meat products and a range of European meats such as chorizos and salamis for the UK’s foodservice industry.
The move makes the UK the company’s third largest market after France and Italy in terms of revenue.
Granarolo estimates that Midland Food Group’s annual turnover will stand at £62 million (€70 million), over three times Granarolo UK’s current turnover of £19.5 million (€22 million).
The company claims its future target is to increase the revenue of its UK division to €100 million (£88.6 million) to replicate the turnover of Granarolo France.
Gianpiero Calzolari, the Granarolo Group’s chairman said: “With the acquisition of Midland Food Group we aim to make an even bigger splash in the British chilled food market, which in 2016 recorded total sales of about €100 billion and keeps growing.
“Granarolo UK, which has a current turnover of more than €22 million with the Made in Italy selection of products (fresh and aged cheeses, pasta and bakery products, balsamic vinegar) will now be able to count on two logistics hubs with a structured, efficient distribution system.
“It will also have the opportunity to develop direct sales in the large and constantly expanding food services sector in the UK.”
Source: FoodBev
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