Ebro buys 52% of italian company Pastificio Lucio Garofalo, S.p.A

Ebro Foods has reached a binding agreement for the purchase of a majority shareholding (52%) in the Italian company Pastificio Lucio Garofalo, S.p.A. for a sum amounting to € 62.5 million.

This Italian company owns the brands Garofalo, Santa Lucia and Russo de Cicciano, inter alia, with a major position in the dry pasta premium segment in Italy and other countries worldwide, with gross sales of €134 million in 2013.

With this acquisition Ebro is showing its confidence in the potential of the Italian pasta of the highest quality; the production and consumption of the so-called “pasta di Gragnano” is part of the Italian gastronomic tradition and culture. The partnership with the leading player Garofalo will allow Ebro to cooperate in the development and international promotion in the premium segment.

It is foreseen to close the transaction by the end of June, at which time we will keep you duly informed.