LA DORIA SIGNS A CONDITIONAL AGREEMENT FOR THE ACQUISITION OF THE PRIVATE LABEL BUSINESS UNIT OF PASTIFICIO DI MARTINO
Upon the completion of the transaction, the La Doria Group will become a producer of dry pasta
Angri (SA), July 31, 2024 – La Doria S.p.A. (“La Doria” and, together with its subsidiaries, the “La Doria Group”), a leading European supplier of Italian speciality shelf-stable private label products, including, amongst others, tomatoes, ready-to-use sauces and canned pulses, has signed a conditional agreement to acquire the business unit of Pastificio di Martino Gaetano e F.lli S.p.A. (“Pastificio Di Martino”) dedicated to the production and marketing of private label dry pasta, and the 13% stake held by Pastificio Di Martino in LDH (La Doria) Ltd, a controlled subsidiary of La Doria.
The transaction includes, among other things, commercial agreements between the La Doria Group and Pastificio Di Martino, active in the production and marketing of dry and fresh pasta under its historic brands “Pastificio Di Martino,” “Pastificio Antonio Amato,” and “Pastificio dei Campi”, as well as the acquisition by the latter of a minority stake in the controlling holding company of the La Doria Group. Additionally, Giuseppe Di Martino will assume the role of “key pasta advisor” for the La Doria Group, bringing his extensive experience in the pasta industry.
The agreement will be effective only upon the satisfaction of certain conditions precedent.
In 2023, Pastificio Di Martino’s business unit dedicated to the production and marketing of private label dry pasta achieved revenues of Euro 108 million and produced 107 thousand tonnes of dry pasta.
La Doria has been advised by Chiomenti as legal advisor and EY Advisory S.p.A for financial and operational due diligence. Pastificio di Martino Gaetano e F.lli S.p.A has been advised by UniCredit S.p.A., as financial advisor and by a team of Studio Astolfo Di Amato e Ass.ti led by Prof. Avv. Giovanni Agrusti for the legal aspects.
****
La Doria Group
The La Doria Group is a leading European supplier of Italian speciality shelf-stable private label products, including, amongst others, tomatoes, ready-to-use sauces and canned pulses. The revenues of the La Doria Group in 2023 totaled Euro 1.228 billion, 95.6% of which were generated from its private label private label product offering with major domestic and international retailers.
Pastificio di Martino Gaetano e F.lli S.p.A.
Pastificio di Martino is a historic company founded in 1912 in Gragnano, the City of IGP Pasta. It is engaged in the
production and distribution of dry, fresh, frozen pasta and gnocchi with the proprietary brands Pasta di Martino IGP di
Gragnano, Pasta Antonio Amato, and Pastificio dei Campi di Gragnano IGP, as well as in private label. The 2023 revenue of Pastificio Di Martino amounted to Euro 170 million, of which approximately 90% was generated outside of Italy.
For further information:
La Doria press office
Patrizia Lepere, Corporate Affairs & Communication Manager
Tel: +39 081 5166260 – Mob: +39 3409673931
Ad Hoc Communication Advisors
Giorgio Zambeletti – e-mail: giorgio.zambeletti@ahca.it
Ivan Barbieri – Mob: +39 3351415581 – e-mail: ivan.barbieri@ahca.it
Sara Mastrorocco – Mob: +39 3351415590 – e-mail: sara.mastrorocco@ahca.it
****
This press release concerns the disclosure of information that qualifies or could qualify as inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014. This press release is not intended and does not constitute an offer to sell or a solicitation of an offer to buy, or an invitation to buy securities in any jurisdiction. The information contained in this release may contain forward-looking statements. These statements involve subjective judgment and analysis and are based on the La Doria Group’s best judgment as of the date of this document.
Such statements are subject to change without notice and are based on a number of assumptions and involve known and unknown risks and uncertainties, as there are a number of factors that may cause actual events and developments to differ materially from any future events and developments expressed or implied by such forward-looking statements. No reliance should therefore be placed on such forward-looking statements. Neither the La Doria Group nor any other person undertakes, or has any obligation, to update these forward-looking statements on the basis of events or circumstances occurring after the date of this press release or to update or keep updated the information contained herein, and this press release does not constitute a representation by the La Doria Group or any other person, except to the extent required by law.
