Valeo To Acquire Italian Baked Goods Firm Balconi
07 May 2015 --- Irish food company Valeo Foods has entered an agreement to buy Italian cake and biscuits company Balconi from private equity firm Clessidra, say Italian press reports.
Balconi, which sells a wide range of prepackaged cakes and snacks, operates from a large factory complex located about a half hour northwest of Milan. It supplies the Italian market and also exports to a number of other countries including Spain, France, Germany and Britain.
A statement released by Clessidra indicated that Valeo will look to expand distribution further into northern Europe. The company has sales of around €200 million annually, and employs some 180 staff.
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