Lapi enhances position in gelatine arena with Juncà Gelatines acquisition
01 Dec 2021 --- Lapi Gelatine has acquired Spain-based Juncà Gelatines, as it eyes growth in developing the industrial gelatine sector for food and pharmaceutical applications. Francesco Casamenti, from sales and marketing at Lapi Gelatine, reveals the details to NutritionInsight from Fi Europe, Frankfurt.
The move has been coined a “historic, pivotal moment for the group,” which, for the first time, opens up to external capital to create a European gelatine group, says Lapi.
“For years, we had a situation where demand was higher than what we could offer. This was unaffected by COVID-19. At the same time, we don’t manufacture pork gelatin which Juncà Gelatines manufactures,” says Casamenti.
The acquisition by Italy-based Lapi Gelatine was achieved in partnership with DisproInvest, the holding company that controls the international distributor of raw materials and Disproquima, which operates in the Life Science market.
Lapi Gelatine was founded in 1966 and produces gelatine and collagen peptides for the food and pharmaceutical sectors.Co-financing came from MPS Capital Services, the Corporate and Investment Bank of the Montepaschi Group. The operation’s borrowing requirement was completed by the contribution of Lapi Group and by Sviluppo Imprese Centro Italia, which, by underwriting a share capital increase, became a shareholder of Lapi Gelatine.
The acquisition has been coined “a complex operation” which combined structured financing, in terms of investment, equity holdings and credit, with concrete support to grow turnover and market share, notes Lapi.
Meeting the demand for pork gelatine
According to Casamenti, the investment was driven by the increasing demand for pork gelatin. “We didn’t actually manufacture pork gelatine until now,” he says, which is now opening the door for more opportunity in the space.
“Lapi is more focused on the certification of gelatine, such as whether it is halal or kosher,” he explains. “However, the acquisition of the two companies means that we can offer high-quality certified pork gelatine to our customers around the world.”
The company also has a production plant that manufactures pork gelatine specifically.
In the future, Casamenti highlights how the company will seek to improve its volumes of gelatine, for which demand is currently rising.
“We will also have some new machinery and look to increase our capacity to other countries,” he comments. To date, the company is satisfied with the current investments it has made in the gelatine space, with Casamenti observing that the company’s situation is “very stable.”
Lapi’s gelatine ingredients “meet all the requirements for the pharmaceutical sectors, as well as the food markets,” adds Casamenti.
“Right now, we have a situation where the revenue for our ingredients is about 50/50, for both the pharmaceutical and food sectors,” he explains. “But our main market has always been the pharmaceutical one. So until last year, it was about 60/40.”
Proving solutions for gelatin and collagen peptides
Lapi Gelatine was founded in 1966 in Empoli, in Tuscany, and produces gelatine and collagen peptides for the food and pharmaceutical sectors.
With a turnover of approximately €30 million (US$33.9 million) and distribution to 52 countries throughout the world, Lapi has managed to maintain constant growth since 2016, increasing turnover by over 30% in the last five years.
Lapi’s gelatine ingredients meet the requirements for the pharmaceutical sectors, as well as food markets.
“The objective of this acquisition is to strengthen our position in the gelatine sector, investing in the expansion of a market in which we are already an internationally recognized player and in which the growth predictions are very high,” adds the chairman of the Lapi Group, Roberto Lapi.
“Lapi Gelatine and Juncà Gelatines are two companies that operate in the same field but with applications in different and complementary sectors.”
“This operation represents an opportunity for mutual growth. This synergy has enormous potential in terms of increasing technical abilities, the product range and a presence on international markets,” he explains.
By Andria Kades & Elizabeth Green, with additional reporting from Katherine Durrell at FiE and HiE in Frankfurt
