Associated British Foods (ABF) has reached agreement to acquire Acetum, a leading Italian producer of Balsamic Vinegar of Modena (BVM).
The group said it is one of the best known vinegars in the world, which has been granted European Protected Geographical Indication (PGI) status due to its unique manufacturing tradition and provenance, as well as its high quality. Completion of the deal is subject to antitrust clearance in Germany and Austria.
Acetum’s brands include Mazzetti, which is the leading brand in Germany and Australia, as well as Acetum and Fini. It also produces a range of apple vinegars and other condiments and sells its products to more than 60 countries around the world. In the year ended 31 December 2016, the business generated net sales of €103m.
ABF said it has ambitious plans to grow these brands and the acquisition will broaden its international presence in speciality foods.
Source: NamNews
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