Granarolo has acquired, partially in the form of an increase in capital and partially in the acquisition of shares, 60% of CONBIO, an Italian company in the production of a wide range of vegetable and organic food products.
The operation allows Granarolo to further increase its strength on a market of vegetable products which grew 240% over the past 5 years, going from 130 million Euro in 2010 to 318 million in 2015 (specifically, vegetable products went from 11 to 79 million Euro in the last 5 years). The market is expected to continue to grow, reaching as much as 600 million Euro by 2020.
"Our Granarolo "100% Vegetale" range, launched at the beginning of last year - explained Gianpiero Calzolari, President of Granarolo - in 2015 reached a turnover of more than 14 million Euro, confirming the fact that the market of vegetable products is growing by double-figure factors every year in our country. In particular, the delicatessen sector - in which CONBIO is specialised - grew the most. According to forecasts, it is expected to reach a third of the overall vegetable product market, driving its further growth. High quality standards, extending the ranges on offer, efficiency, and the ability to penetrate the market are the key words that will guide our work in the coming months".
CONBIO is also satisfied with the operation:
"The entry of Granarolo" - says Paolo Franceschini, at the head of the company for more than 15 years - "opens new prospects for CONBIO, a company that has always believed in the market of vegetable products, contributing to growth in the sector. Today, we can express our sincere pride and optimism in becoming part of a great Italian group like Granarolo. We are sure we can make a significant contribution to the development of a broad project focusing on 100% vegetable products."
CONBIO is the fourth largest Italian company in the vegetable-based food market for refrigerated goods, with a quota of 6.1% of the sector's total. The company is a leader in Italy in Research&Development, with products like spreading creams, burgers, seitan, tofu and tempeh based foods, "ragù" (bolognese sauce), soups and ready-made dishes, all entirely vegetable-based and organic. Thanks to accurate control of the production chain and the use of Italian raw materials, the company, which made a turnover of almost 12 million Euro in 2015, is the ideal partner in reinforcing the diversification of Granarolo's products.
