Nestlé Italiana has signed a preliminary agreement to sell its pasta production plant in Moretta to Italian company Pastificio Rana.
Built in 1922 and renovated by Nestlé Italiana in 1990, the plant is located in the Piedmont region and covers an area of 25,000 square meters and produces fresh stuffed pasta and sauces under the group’s Buitoni brand.
Nestlé said that the acquisition covers all assets of the plant and will guarantee the continued employment of its 190 members of staff.
As part of the deal, Pastificio Rana will also distribute and market Buitoni pasta and sauces in Europe, the Middle East and North Africa. However, in Italy and Spain the Buitoni brand will still be distributed and marketed by Nestlé.
Buitoni will still be owned by Nestlé, and the company said it will continue to invest in innovation, research and marketing to promote the brand.
Leo Wencel, head of the Nestlé Group in Italy, said: “We are very satisfied with the agreement reached with Pastificio Rana, a leading producer of food excellence in our country.
“Buitoni’s fresh pasta and sauces have always been synonymous with quality and emblems of the great Italian gastronomic tradition. The commercial partnership with Rana will allow us to seize growth opportunities abroad, while ensuring development and employment continuity at the Moretta site.”
Rana Pastificio CEO Gian Luca Rana said: “We are very happy to have seized this opportunity, which allows us to immediately expand our production capacity, increase volumes and provide a timely and effective response to a global market that has seen us grow for over 25 years with average rates above 15%.”
He added: “This commercial partnership will allow us to appreciate and grow the fresh pasta and sauces categories of an important and historic brand like Buitoni in the markets in which it is not currently present.”
Source: FoodBev
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