Nutkao Srl acquires Antichi Sapori dell'Etna Srl
Banca Akros acted as exclusive financial adviser to the purchaser
The Italian company Nutkao Srl, an international leader in contract manufacturing that has been creating and producing creams and chocolates on behalf of third parties for more than 30 years, is continuing with its plan of expansion, by targeting the pistachio market with the purchase of another top Italian producer: Antichi Sapori dell’Etna Srl.
As of today, the Nutkao Group, whose registered office is located in Canove di Govone in Piedmont, distributes in 80 countries worldwide. The acquisition will enable the Group to amply surpass €250 million in total turnover, positioning Nutkao among the most important European operators in its sector.
Antichi Sapori dell’Etna was formed in Bronte in 2002, the brainchild of Vincenzo Longhitano and Nino Marino. In the space of just a few years, the company transformed from a pastry-making workshop to a company that now boasts 70 hectares of pistachio groves on the slopes of Mount Etna, two production facilities and distribution operations in 52 countries, with a turnover exceeding €55 million.
Antichi Sapori has a high level of specialisation and dedicated brands for each sales channel: Pistì, a leading brand in large-scale retail distribution, in addition to Vincente, with ultra-high quality selection intended for specialists in the gourmet sector, Madero Pastry and Madero Quality, which offer semi-finished products for high-end pastry-making and for industry.
Banca Akros acted as exclusive financial adviser to the purchaser.
Banco BPM was successfully involved in the transaction, providing the acquisition financing package for the fund.
The transaction represents an example of cross-selling and cross-origination driven by an M&A deal and represents the consolidation of the Group’s role as a key player in extraordinary transactions in the Italian mid-market.
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