26 July 2022Place:
The Ambrosi Group is one of the main Italian diary player, leader in the production and distribution of the most important Italian PDO cheeses, and in particular of Parmigiano Reggiano and Grana Padano. With 2021 revenues of approximately €420 million, the Group serves the major retail chains and important Italian and international foodservice operators with over 1,100 product references and over 44,000 tons of cheeses
The Group operates through 4 state of the art plants in Italy, which are technologically advanced (Castenedolo, Traversetolo, Collecchio e Turro) and internationally through 3 wholly owned commercial subsidiaries in France (Ambrosi France), UK (Anthony Rowcliffe & Son Ltd) and in the USA (Ambrosi Food USA Corp.)
With headquarters in Castenedolo, Brescia, Ambrosi has built a successful business model over the years through significant investments made to build, acquire and expand the production and aging capacity of its facilities, dedicated to distinctive Italian PDO products, such as Grana Padano and Parmigiano Reggiano. The Group has also invested to create its own international commercial platforms to directly serve international customers, providing unique products with a superior level of service.
Today, the Ambrosi Group serves over 2 thousand customers, including the most important retail chains in Italy (Coop. Conad, Auchan, Carrefour, Crai, etc.), in France (Auchan, Carrefour, System U, Intermarchè, Lidl, etc.) and other major retailers in the United States, UK, Germany, Switzerland, Sweden and Canada. The Group is present in over 50 countries around the world and its export now accounts for almost 50% of turnover.
The Ambrosi Group has always grown over the years, more than doubling its business in the last 15 years, going from € 200 million in revenues in 2007 to € 420 million in 2021, increasingly expanding the range of products offered which, in addition to the Grana Padano and Parmigiano Reggiano, include several other Italian PDOs such as gorgonzola, pecorino, buffalo mozzarella, taleggio, fontina and asiago.
After 80 years of history and successes, the Ambrosi family entrusts the future of the Group to Lactalis which will continue to support the growth and development of the company.
In fact, the Ambrosi family together with their historical partner, the Swiss Emmi group, reached an agreement for the sale of 100% of the shares of Ambrosi S.p.A. to the Lactalis group, the world's leading cheese producer with over € 22 billion in revenues present in 90 countries, including Italy with the Galbani, Parmalat and President brands.
Lactalis produces and distributes a broad portfolio of products including cheese, milk, yoghurt, milk-based ingredients and supplements. The group operates with 270 production sites in over 52 countries with 85,500 employees. In Italy, Lactalis has already completed other important acquisitions, including Galbani in 2006, Parmalat in 2011 and recently Nuova Castelli in 2020.
Despite the strong interest expressed over the years by several multinationals and leading private equity funds, the shareholders have chosen Lactalis as the ideal successor to ensure business continuity, the link with the territory and the further consolidation of the sector. In fact, the agreement with Lactalis provides for the confirmation of the current management team with the aim of further accelerating the international growth of the business.
The sale process, assisting the Ambrosi family and Emmi, was run by CP Advisors, led by Salvo Mazzotta and Marco Garro, and coordinated in the transaction by director Giovanni Nucera.
For Giovanni Pomella, CEO of the companies of the Lactalis group in Italy "This operation confirms the interest of the group in supporting and developing the Italian dairy supply chain: thanks to the strong penetration capacity of Lactalis' international commercial network, two exceptional cheeses such as Grana Padano and Parmigiano Reggiano will be able to consolidate their international presence and expand into new markets. "
For Giuseppe Ambrosi, President and CEO of Ambrosi S.p.A. "After 80 years of history and successes that have allowed the Ambrosi Group to develop the sales of its cheeses in Italy and around the world, with a presence in over 50 countries, we have chosen another family business, entrusting the future development to Lactalis of Ambrosi’s cheeses. This choice represents the best guarantee of success for the employees of our Group and for our products: proof of this is what Lactalis has managed to achieve with the growth of the mozzarella market. Lactalis has shown that it knows how to combine respect for traditions with the development of brands”.
Commenting on the transaction, Salvo Mazzotta, Managing Partner of CP Advisors stated: "We are very proud of the trust placed by the Ambrosi family and by EMMI in our team, in managing this important mandate to enhance their shareholding value in Ambrosi S.p.A., assisting them in every stage of the process that ultimately met their strategic and economic expectations. We wish the Lactalis group and the management of Ambrosi continue future success".