Lantmännen Unibake signs agreement to expand in Italy

Panificio San Francesco is an Italian bakery, founded in 2006 and operating one industrial bakery in Codevilla, Italy, approximately 75 km south of Milan. The company is recognized for its products and its strong regional presence in supplying retail customers within the Italian bake-off segment.

Currently the company is owned by ITAGO, a private equity firm (through NEIP III SICAF S.p.A.) which holds the majority stake, and by private shareholders as minority shareholders.

“We continue to strengthen and expand Lantmännen’s existing businesses through strategic acquisitions in attractive markets. The agreement in Italy reflects our ambition to build a strong platform for long-term growth and supports our goal of further strengthening our position in the European bakery market,” says Magnus Kagevik, Group President and CEO of Lantmännen.

The signing of the agreement reflects Lantmännen Unibake’s commitment to reinforcing its position in an attractive market and supporting future growth in bake-off. By bringing together Panificio San Francesco’s retail network and product expertise with Unibake’s capabilities and portfolio, the partnership presents commercial and innovation opportunities that will be considered following the completion of the transaction.

“We are pleased to announce the signing of this agreement with Panificio San Francesco,” says Carsten Thomsen, President of Lantmännen Unibake. ”It supports our ambition to actively participate in the evolving dynamics of the European bakery sector and marks an important milestone. We now look forward to completing the transaction.”

The transaction is subject to customary closing conditions and regulatory approvals. Closing is expected to take place at a later date. Until closing, both companies will continue to operate independently with no changes for employees, customers, or partners.

We will communicate further as appropriate.