Sector News

Granarolo acquires 25% of New Zealand’s European Foods

October 15, 2015
Food & Drink

Italy’s largest dairy company, Granarolo Group, has acquired 25% of European Foods, a leading importer and distributor of Italian food products in New Zealand. The operation was conducted via Granarolo Group’s subsidiary, Granarolo International.

The deal also includes an option to purchase an additional 26% of shares within the next 12 to 18 months, which could enable Granarolo International to attain a 51% stake in European Foods.

Granarolo will now secure distribution of a range of its products in New Zealand, including Parmigiano Reggiano (parmesan cheese), Grana Padano and Pecorino.

According to Granarolo chairman, Gianpiero Calzolari, the operation will also enable the company to reach Australia and countries of Southeast Asia, with which New Zealand has free trade agreements.

Auckland-based European Foods, which had a turnover of over €6 million in 2014, distributes Italian food products in the retail and in the foodservice channels.

The Italian cheese market in New Zealand is worth over €5 million, while the total for Oceania is around €33 million, of which over 50% comes from Parmigiano Reggiano and Grana Padano sales.

Source: European Supermarket Magazine

comments closed

Related News

May 21, 2022

Cécile Béliot becomes Bel Group CEO

Food & Drink

Cécile Béliot has assumed the role of Bel Group chief executive officer, following the decision to separate the roles of chairman and CEO. The separation of the functions will enable Bel Group to develop in three areas of healthy snacking. Meanwhile, the company’s former CEO, Antoine Fiévet, has had his mandate renewed as chairman of the board.

May 21, 2022

“Corporate greed and dereliction of duty”: FDA commissioner slammed over infant formula shortage

Food & Drink

US Food and Drug Administration (FDA) Commissioner Dr. Robert Califf was grilled by lawmakers during a House Appropriations subcommittee hearing, where he was slammed over the agency’s handling of the escalating infant formula shortage.

May 21, 2022

Sweegen hails antioxidants and bitter blocking tech a turning point for sugar reduction and healthy aging

Food & Drink

Sweegen is ramping up its efforts to reduce sugar across F&B applications while simultaneously tapping into the benefits of using antioxidants and bitter blocking technology. Speaking to FoodIngredientsFirst, Casey McCormick, vice president of global innovation at Sweegen, says product developers can find a broad range of solutions in Sweegen’s nature-based sweetener systems as brands elevate better-for-you foods.