Italpizza buys the majority of the ice cream subsidiary Italgelato

Italy-based frozen pizza business Italpizza has bought a majority stake in the Italgelato ice cream business as it looks to expand its export portfolio.

Italpizza, which already had a minority stake in the business, said it was expanding its range of “Made in Italy” products for the export market. Terms of the deal were not disclosed.

It follows Italpizza’s acquisition of Mantua Surgelati for EUR60m (US$63.5m) in October last year. The Mantua, Italy-based company also makes ice cream, as well as frozen pizzas and pre-cooked pasta dishes.

Modena-based Italgelato has a production facility in Camisano Vicentino, Veneto, and exports most of its ice cream. Of its turnover of EUR 11 million in 2022, 70% came from export sales. The Veneto plant has a production capacity of 40 million 300/400 g PET screw-cap cups per year and employs 60 people.

Italpizza, previously owned by Bakkavor and sold to Dreamfood in 2015, plans to increase the combined turnover of its two ice cream divisions to 25 million euros with 100 employees, although it did not specify a time frame.

Italpizza Chairman Cristian Pederzini said: “Following our recent acquisition of the Mantua Surgelati group in Castelbelforte, Mantua, which also has an ice cream branch, the decision to acquire control of Italgelato became a strategic one, as we can thus take advantage of the synergy. between the two companies.

“It allows us to expand our offer to include another product that is a symbol of Made in Italy, one that complements the world of frozen pizza.

“The ice cream branch of the group, made up of these two companies, will thus be able to develop a turnover of around 25 million euros, predominantly in foreign markets, based on two plants that together total 11,000 square meters, with a capacity production of 40 m tubs and individual 35 m portions per year, employing around 100 people”.

Italpizza also expanded into Spain last year with the acquisition of the Spanish company Pizza Artesana Malgrat.

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James D. Brown
James D. Brown
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